STOCK MARKET WATCH -- Wednesday, 26 November 2014

[Tansy_Gold]

[font size=3]STOCK MARKET WATCH, Wednesday, 26 November 2014[font color=black][/font]

SMW for 25 November 2014

AT THE CLOSING BELL ON 25 November 2014
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Dow Jones 17,814.94 -2.96 (-0.02%)
S&P 500 2,067.03 -2.38 (-0.12%)
[font color=green]Nasdaq 4,758.25 +3.36 (0.07%)


[font color=green]10 Year 2.26% -0.05 (-2.16%)
30 Year 2.96% -0.06 (-1.99%) [font color=black]


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[font size=2]Market Conditions During Trading Hours[/font]
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(click on link for latest updates)
http://tools.investing.com/market_quotes.php?
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[font size=2]Euro, Yen, Loonie, Silver and Gold[center]

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[font color=black][font size=2]Handy Links - Market Data and News:[/font][/font]
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Economic Calendar
Marketwatch Data
Bloomberg Economic News
Yahoo Finance
Google Finance
Bank Tracker
Credit Union Tracker
Daily Job Cuts
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[font color=black][font size=2]Handy Links - Economic Blogs:[/font][/font]
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The Big Picture
Financial Sense
Calculated Risk
Naked Capitalism
Credit Writedowns
Brad DeLong
Bonddad
Atrios
goldmansachs666
The Stand-Up Economist
The Automatic Earth
Wall Street on Parade
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[font color=black][font size=2]Handy Links - Essential Reading:[/font][/font]
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Matt Taibi: Secret and Lies of the Bailout


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[font color=black][font size=2]Handy Links - Government Issues:[/font][/font]
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LegitGov
Open Government
Earmark Database
USA spending.gov
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[font color=black][font size=2]Handy Links - Videos:[/font][/font]
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Charlie Rose talks with Roubini
Charlie Rose talks with Krugman
William Black: This Economic Disaster
Bill Moyers with Kevin Drum and David Corn
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[font color=red]Partial List of Financial Sector Officials Convicted since 1/20/09 [/font][font color=red]
2/2/12 David Higgs and Salmaan Siddiqui, Credit Suisse, plead guilty to conspiracy involving valuation of MBS
3/6/12 Allen Stanford, former Caribbean billionaire and general schmuck, convicted on 13 of 14 counts in $2.2B Ponzi scheme, faces 20+ years in prison
6/4/12 Matthew Kluger, lawyer, sentenced to 12 years in prison, along with co-conspirator stock trader Garrett Bauer (9 years) and co-conspirator Kenneth Robinson (not yet sentenced) for 17 year insider trading scheme.
6/14/12 Allen Stanford sentenced to 110 years without parole.
6/15/12 Rajat Gupta, former Goldman Sachs director, found guilty of insider trading. Could face a decade in prison when sentenced later this year.
6/22/12 Timothy S. Durham, 49, former CEO of Fair Financial Company, convicted of one count conspiracy to commit wire and securities fraud, 10 counts of wire fraud, and one count of securities fraud.
6/22/12 James F. Cochran, 56, former chairman of the board of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and six counts of wire fraud.
6/22/12 Rick D. Snow, 48, former CFO of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and three counts of wire fraud.
7/13/12 Russell Wassendorf Sr., CEO of collapsed brokerage firm Peregrine Financial Group Inc. arrested and charged with lying to regulators after admitting to authorities he embezzled "millions of dollars" and forged bank statements for "nearly twenty years."
8/22/12 Doug Whitman, Whitman Capital LLC hedge fund founder, convicted of insider trading following a trial in which he spent more than two days on the stand telling jurors he was innocent
10/26/12 UPDATE: Former Goldman Sachs director Rajat Gupta sentenced to two years in federal prison. He will, of course, appeal. . .
11/20/12 Hedge fund manager Matthew Martoma charged with insider trading at SAC Capital Advisors, and prosecutors are looking at Martoma's boss, Steven Cohen, for possible involvement.
02/14/13 Gilbert Lopez, former chief accounting officer of Stanford Financial Group, and former controller Mark Kuhrt sentenced to 20 yrs in prison for their roles in Allen Sanford's $7.2 billion Ponzi scheme.
03/29/13 Michael Sternberg, portfolio mgr at SAC Capital, arrested in NYC, charged with conspiracy and securities fraud. Pled not guilty and freed on $3m bail.
04/04/13 Matthew Marshall Taylor,fmr Goldman Sachs trader arrested, charged by CFTC w/defrauding his employer on $8BN futures bet "by intentionally concealing the true huge size, as well as the risk and potential profits or losses associated."
04/04/13 Matthew Taylor admits guilt, makes plea bargain. Sentencing set for 26 June; faces up to 20 years in prison but will likely only see 3-4 years. Says, "I am truly sorry."
04/11/13 Ex-KPMG LLP partner Scott London charged by federal prosecutors w/passing inside tips to a friend in exchange for cash, jewelry, and concert tickets; expected to plead guilty in May.
08/01/13 Fabrice Tourré convicted on six counts of security fraud, including "aiding and abetting" his former employer, Goldman Sachs
08/14/13 Javier Martin-Artajo and Julien Grout charged with wire fraud, falsifying records, and conspiracy in connection with JP Morgan's "London Whale" trade.
08/19/13 Phillip A. Falcone, manager of hedge fund Harbinger Capital Partners, agrees to admit to "wrongdoing" in market manipulation. Will banned from securities industry for 5 years and pay $18MM in disgorgement and fines.
09/16/13 Javier Martin-Artajo and Julien Grout officially indicted on charges associated with "London Whale" trade.
02/06/14 Matthew Martoma convicted of insider trading while at hedge fund SAC (Stephen A. Cohen) Capital Advisors. Expected sentence 7-10 years.
03/24/14 Annette Bongiorno, Bernard Madoff's secretary; Daniel Bonventre, director of operations for investments; JoAnn Crupi, an account manager; and Jerome O'Hara and George Perez, both computer programmers convicted of conspiracy to defraud clients, securities fraud, and falsifying the books and records.
05/19/14 Credit Suisse, which has an investment bank branch in NYC, agrees to plead guilty and pay appx. $2.6 billion penalties for helping wealthy Americans hide wealth and avoid taxes.
09/08/14 Matthew Martoma, convicted SAC trader, sentenced to 9 years in prison plus forfeiture of $9.3 million, including home and bank accounts







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[font size=3][font color=red]This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.[/font][/font][/font color=red][font color=black]

[golfguru]

1. How high will the overvaluation reach?

Another 20 points on SPX, will make this market more overvalued than in 2008. Another 10% up from there will make it more overvalued than in 1929! May be we can even get to 1999-2000 record overvaluations! I never thought I would see those heights in my lifetime again and still do not expect to! IMO Magic of internet stocks was more powerful than boring ZIRP.

Note: I use Shiller PE for valuations.

[Tansy_Gold]

2. I don't think anyone in a position of visibility pays any attention

Or even gives a shit.

And they won't until the long overdue "correction" settles in for realz. . . . .

[golfguru]

5. Those in position of visibility

such as brokers, advisory services, article writers etc DEPEND on bringing more money and more participants in the market.

I can't ever remember my broker saying "it would make sense to take lot of money off the table". Instead I was usually told which stocks looked attractive to BUY right now!.

If you ask the 50 million stock owners what is the current price to earnings ratio of their holdings, 49 million will not know the answer.

But that is why we have wild swings in the markets. It makes markets more exciting and interesting. There are enough boring events in daily life.

[DemReadingDU]

8. What if the markets stop swinging?

Remember September 2001. The markets did not open on 9/11/2001. The markets stayed closed, and didn't reopen until 9/17/2001.
http://www.investopedia.com/financial-edge/0911/how-september-11-affected-the-u.s.-stock-market.aspx


It could happen again, markets might stay closed for weeks.

[Fuddnik]

9. I was going to say I'd rather see bankers swinging.

From lamp posts.

But that would be insensitive and cruel.

And why is this wet dog laying in my bed?

[golfguru]

10. Large changes are normal when

markets overextend in either direction.
Pressure builds up and it must be relieved.

The largest corections in US Markets in 1999-2000, 2008-2009 and 1929 had nothing to do with wars or terrorism.
They were largely events due to financial excesses.

[Demeter]

3. Top Icelandic banker jailed for role in 2008 financial collapse

http://www.euronews.com/2014/11/19/top-icelandic-banker-jailed-for-role-in-2008-financial-collapse/



The former head of the Icelandic bank Landsbanki has been sentenced to a 12-month jail term.
Sigurjon Arnason was on trial for his role in the collapse of the financial sector in 2008.

Two other of the bank's executives received nine month sentences. The Landsbanki three were accused of manipulating the bank’s share price by lending cash to investors on condition they purchase stocks.

The global financial crisis in 2008 froze credit markets and Iceland’s banks quickly collapsed, plunging the island’s economy into recession.

[golfguru]

6. So, which American bankers are in jail?

If tiny Iceland can prosecute the law breakers, why not the world's super power?

[Fuddnik]

7. The Banksters tried to buy Iceland, but couldn't close the deal.

But, their investment in America has paid off royally.

[Crewleader]

4. Today's Cartoon

[xchrom]

11. Juncker Unveils Investment Plan To Kick Start EU Growth

http://www.businessinsider.com/r-juncker-unveils-investment-plan-to-kick-start-eu-growth-2014-11

STRASBOURG, France (Reuters) - European Commission President Jean-Claude Juncker presented a plan on Wednesday to leverage some 300 billion euros ($375 billion) of largely private new investment in the European Union, saying it was time to kick-start growth without adding to public debt.

Underlining the need to maintain efforts at structural reforms of aging economies and pare back debt and deficits run up during the financial crisis, the EU's new chief executive told the European Parliament in Strasbourg that his plan would be the third leg of a strategy to get Europeans back to work.

"Europe needs a kick-start and today the Commission is applying the jump leads," said Juncker, a conservative former prime minister of Luxembourg who took office this month.

He acknowledged criticism of the plan for lacking a major component of new public spending. EU officials say the Union is setting aside just 8 billion euros to help provide 21 billion of capital for a special fund, managed with the European Investment Bank, that they believe can trigger 315 billion euros of investment over the next three years.



Read more: http://www.businessinsider.com/r-juncker-unveils-investment-plan-to-kick-start-eu-growth-2014-11#ixzz3KAq4v5Ae

[Demeter]

18. "Aging Economy" that's a very interesting weasel word construction

Business cycles age, political cycles age....but an economy is a daily, minute by minute, timeless thing.

The economy is an abstraction created in the mind to include every financial transaction in a particular geographic area. It's not going to "age".

HOWEVER, the zombie-like, criminal, bankster/technocrat regime we are laboring and suffering under, all around the globe, is well past its sell date and not getting any fresher.

[xchrom]

12. Scandinavia Is Better Connected Than Any Other Region Of The World

http://www.businessinsider.com/scandinavia-is-better-connected-than-any-other-region-of-the-world-2014-11

Denmark has been named the world's "most connected" country based on mobile phone and internet use.

Scandinavia dominated this year’s rankings, with Sweden in third place, followed by Iceland in fourth, Norway sixth and Finland eighth. Britain came fifth.

They were compiled as part of a report by the International Telecommunication Union - the Information and Communication Technology Development Index (IDI), which rates 166 countries according to their level of access to, use of and skills in using information and communication technology.

Hong Kong was the ninth most connected country, coming in ahead of Japan in 11th place, while Luxembourg completed the top 10.



Read more: http://www.businessinsider.com/scandinavia-is-better-connected-than-any-other-region-of-the-world-2014-11#ixzz3KAqaIc71

[xchrom]

13. The UK's Solid GDP Growth Just Got Confirmed

http://www.businessinsider.com/uk-gdp-q3-2014-2014-11

The UK's confirmed Q3 growth figures are just out.

UK GDP rose by 0.7% in Q3, compared to Q2, as analysts had expected: that's a decent pace of growth, meaning a 3% expansion from the same period last year.

Business investment rose 7.1%, up a little less than expected. In Q3, investment only rose 1% from the second quarter. The part of the index that just covers private businesses dropped 0.7%, the first decline in five quarters.

Economists had expected total business investment to jump by about 9.5% from the same time last year.

That's a bit of a setback for politicians who are eager to show they're "rebalancing" the economy away from consumption spending. But in general it's considerably better than the picture in Europe at the moment, with growth at just 0.2%. Germany, the continent's biggest economy, only expanded by 0.1% in the same period.



Read more: http://www.businessinsider.com/uk-gdp-q3-2014-2014-11#ixzz3KAr2r02F

[xchrom]

14. The 10 Most Important Things In The World Right Now

http://www.businessinsider.com/the-10-most-important-things-in-the-world-right-now-nov-26-2014-11

1. Europe begins discussing whether it should try and break up Google. The search engine has a 90% dominance of the market here. The EU parliament debate begins at 7pm tonight. (Don't expect any immediate action.)

2. Meanwhile, Washington is annoyed that the EU believes it has the power to interfere with Google. Republican and Democrat congressmen have sent a latter expressing their alarm at the idea that the EU may proceed with its plan, according to the FT.

3. People are furious that Facebook failed to warn police that the killers of soldier Lee Rigby were using the social network to plot his death. One of the killers, Michael Adebowale, talked with a fellow extremist in December 2012 and expressed his "intent to murder a soldier in the most graphic and emotive manner."

4. Britain's bank culture is "toxic" and will take a generation to change, according to a report. The BBC says, "Over two decades 'an aggressive sales culture took hold in retail banking,' with staff in some branches receiving cash bonuses, iPods, or tickets to Wimbledon for hitting sales targets, it said. Those that failed to hit targets 'were humiliated by having cabbages and other vegetables placed on their desks,' it added.

5. Twitter is thinking about buying Justin Bieber's startup. The selfie app has 3 million users who over-index among women under age 24.



Read more: http://www.businessinsider.com/the-10-most-important-things-in-the-world-right-now-nov-26-2014-11#ixzz3KArrF0JJ

[xchrom]

15. Goldman Sachs, HSBC And Others Have Been Accused Of Rigging The Metals Market

http://www.businessinsider.com/r-goldman-basf-hsbc-accused-of-metals-price-fixing-us-lawsuit-2014-11

NEW YORK (Reuters) - Goldman Sachs Group Inc, Germany's BASF SE and two other big platinum and palladium dealers have been sued in the United States in what the plaintiff's law firm called the first nationwide class action over alleged price-fixing of the metals.

In a complaint filed on Tuesday in the U.S. District Court in Manhattan, units of Goldman, BASF, HSBC Holdings Plc and South Africa's Standard Bank Group Ltd were accused of having conspired since 2007 to rig the twice-daily platinum and palladium "fixings" and the prices of futures and options based on those fixings.

The plaintiff, Modern Settings LLC, a Florida-based maker of jewelry and police badges, claimed metals purchasers lost millions of dollars.

The defendants illegally shared customer data, used that information to engage in "front-running" of expected price moves, and manufactured phantom "spoof" orders, according to the plaintiff.



Read more: http://www.businessinsider.com/r-goldman-basf-hsbc-accused-of-metals-price-fixing-us-lawsuit-2014-11#ixzz3KAsUSCkj

[xchrom]

16. Obama Vows To Veto A Business Tax Break Deal In Congress

http://www.businessinsider.com/r-in-blow-to-tax-negotiators-obama-threatens-veto--2014-11

WASHINGTON (Reuters) - President Barack Obama pledged on Tuesday to veto a deal still under negotiation in Congress that would make several expiring business tax breaks permanent.

The warning marks a major setback to House and Senate negotiators who were trying to reach a deal on so-called "tax extender" breaks worth some $440 billion over 10 years.

"The President would veto the proposed deal because it would provide permanent tax breaks to help well-connected corporations while neglecting working families," White House spokeswoman Jennifer Friedman said in a statement.

Senate Democratic leader Harry Reid is trying to work out the best possible deal before Republicans take control of the Senate next year. The plan nearing completion would have made permanent research and development tax credits and other breaks for businesses while leaving out a permanent expansion of earned income and child tax credits for the working poor.



Read more: http://www.businessinsider.com/r-in-blow-to-tax-negotiators-obama-threatens-veto--2014-11#ixzz3KAtIXIbU

[Demeter]

20. Damn you, Harry Reid!

Talking about well past sell dates....

[Hotler]

27. What is with that man?????????

[xchrom]

17. Argentina's President Is Back Battling Hedge Funds After A Trip To The Hospital

http://www.businessinsider.com/r-argentinas-fernandez-back-on-job-after-infection-vows-to-fight-hedge-funds-2014-11

BUENOS AIRES (Reuters) - Argentina's President Cristina Fernandez returned to the public stage in fighting form on Tuesday after a three-week break due to an infection, declaring in a speech to businessmen she would not be held ransom by hedge funds suing the country.

The 61-year-old, two-term president who has had various health problems in recent years was discharged from hospital on Nov. 9 after treatment for bacterial infection of the colon and ordered by her doctors to rest.

But in her 40-minute speech to the Argentine Chamber of Construction, she appeared every bit her usual fiery self, attacking the hedge funds that purchased Argentine debt for cents on the dollar after its devastating 2002 default and are now suing it for full repayment.

Holders of 93 percent of Argentina's defaulted debt accepted swaps in 2005 and 2010 for new paper offering around 30 cents on the dollar.



Read more: http://www.businessinsider.com/r-argentinas-fernandez-back-on-job-after-infection-vows-to-fight-hedge-funds-2014-11#ixzz3KAtqjxEO

[xchrom]

19. EU PROPOSES $380 BILLION INVESTMENT PLAN

http://hosted.ap.org/dynamic/stories/E/EU_EUROPE_INVESTMENT?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-11-26-05-54-17

BRUSSELS (AP) -- The European Union's executive is proposing a 315-billion euro ($380 billion) investment plan to boost the bloc's flagging economy, a scheme whose success will depend on leveraging 21 billion euros in guarantees and seed money to attract private funds.

European Commission President Jean-Claude Juncker said Wednesday that the long-awaited plan will not increase debt and will be based on EU guarantees to entice private sector investment in education, transport, the digital economy and the environment.

Juncker estimated that every euro invested in the three-year scheme could generate investment of about 15 euros.

Europe's economy has been struggling to grow since it emerged from recession over a year ago, partly because many governments are still cutting back on spending to reduce debt. The European Central Bank has offered economic stimulus, but says it can only do so much, and that investment needs to pick up.

[xchrom]

21. 3 REASONS HOLIDAY SHOPPERS WILL SPEND CAUTIOUSLY

http://hosted.ap.org/dynamic/stories/U/US_HOLIDAY_SHOPPING_THREE_REASONS_FOR_CAUTIOUS_SPENDING?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-11-26-07-01-22

NEW YORK (AP) -- Falling gas prices. Soaring stock market. Unemployment at a six-year-low.

All signs point to a successful holiday shopping season. Despite the economic tail winds, though, retailers are finding themselves having to work to get shoppers into stores.

Why? Five years into the economic recovery, most Americans still are struggling.

Gas prices may be hovering at a four-year low, but Americans are paying more for food, health care and other costs. Unemployment is low, too, but then so is wage growth. And even though the stock and housing markets have improved, Americans haven't changed their deal-hungry shopping habits.

"Retail therapy is out the window for most Americans," said Ken Perkins, president of RetailMetrics LLC, a research firm.

[xchrom]

22. AP SOURCES: GOV'T TO SET STRICTER SMOG STANDARD

http://hosted.ap.org/dynamic/stories/U/US_OBAMA_SMOG?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-11-26-03-17-28

WASHINGTON (AP) -- The stricter smog standard proposed by the Obama administration joins a string of historic - and controversial - moves by the administration to improve air quality.

The Environmental Protection Agency will announce Wednesday a preferred range of 65 to 70 parts per billion to reduce the amount of smog-forming pollution allowed in the air, people familiar with the proposal told The Associated Press. The agency's scientific advisers had endorsed a standard as low as 60 parts per billion. The current standard is 75 parts per billion, put in place by President George W. Bush in 2008.

The EPA was under a court-ordered Dec. 1 deadline to issue a new proposal. Those familiar with the proposal were not authorized to discuss it by name ahead of the official announcement and spoke on condition of anonymity.

Sen. James Inhofe, R-Okla., who will take over the Senate Environment and Public Works Committee in January, said in a statement late Tuesday that a stricter standard "will lower our nation's economic competitiveness and stifle job creation for decades." He vowed "vigorous oversight" of the proposal in his new position.

[xchrom]

23. GREEK BAILOUT TALKS RESUME IN PARIS

http://hosted.ap.org/dynamic/stories/E/EU_GREECE_BAILOUT_TALKS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-11-25-16-04-28

PARIS (AP) -- Greece resumed negotiations in Paris with bailout inspectors on Tuesday, as officials in Athens said the country would seek a more gradual exit from the massive rescue program than previously hoped.

Greek Finance Minister Gikas Hardouvelis started the weeks-delayed talks with representatives from the European Commission, European Central Bank and International Monetary Fund.

The two sides are trying to overcome differences over a feared budget shortfall next year and the future of painful cost-cutting reforms.

Since coming to the brink of bankruptcy and losing market access in 2010, Greece has survived on bailout programs worth 240 billion euros ($300 billion) and requiring harsh austerity measures.

[xchrom]

24. AS OPEC FACES TOUGH TEST, LOWER OIL PRICES LOOM

http://hosted.ap.org/dynamic/stories/O/OPEC_AT_CROSSROADS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-11-25-17-08-30

NEW YORK (AP) -- These are the moments OPEC exists for: A sharp drop in global oil prices has reduced the amount of money OPEC countries take in by nearly $1 billion a day.

The 12-member group's purpose is to coordinate how much oil is produced in order to keep prices high and stable and maximize member countries' revenue while making sure global demand for oil stays strong. A steep, coordinated cut in output could stop and possibly reverse what has been a 32 percent decline in prices over five months.

But there is widespread doubt that OPEC will be able to do much of anything when it meets in Vienna later this week - doubt sent oil down another 2 percent Tuesday. Analysts think OPEC members won't agree to a cut or the cut will be too small to influence oil prices. They could also, as in the past, agree to lower production but then fail to stick to the target.

That could mean further declines in the price of oil, along with fuels such as gasoline, diesel and jet fuel.

[xchrom]

25. Asian Stocks Rise Fourth Day as Chinese Insurers Lift Financials

http://www.bloomberg.com/news/2014-11-26/asian-stocks-rise-for-fourth-day-as-materials-shares-lead-gains.html

Asian stocks rose, with the regional benchmark index heading for a four-day advance, after Chinese shares extended their rally as insurers led gains.

Shares of China Life Insurance surged at least 7 percent in Hong Kong and Shanghai amid optimism the recent interest-rate cut will boost premiums. Power Assets Holdings Ltd. gained the most among utilities, rising 3.8 percent in Hong Kong. Nippon Light Metal Holdings Co. soared 6.6 percent in Tokyo after a report that Toyota Motor Corp. will use more aluminum in its Lexus vehicles.

The MSCI Asia Pacific Index (MXAP) added 0.4 percent to 141.28 as of 4:06 p.m. in Hong Kong after rising 1.1 percent the past three trading days. The Shanghai Composite Index climbed 1.4 percent to extend a three-year high. U.S. stocks slipped from a record as a drop in consumer confidence offset faster economic expansion.

“We’ve got a mixed picture,” said Chris Weston, chief market strategist at IG Markets Ltd. in Melbourne. “We may see the market run out of steam at the moment, but a pullback will be a buying opportunity.”

[xchrom]

26. Shorting Chickens Becomes Hot Trade After Prices Surge

http://www.bloomberg.com/news/2014-11-25/shorting-chickens-becomes-hot-trade-after-prices-surge.html

Short sellers have found a new asset to bet against: chickens.

With no futures market to speculate on chicken-price movements, they’re turning to the equity market, borrowing record amounts of shares of two U.S. poultry producers that they in turn sell in anticipation of declines. The percentage of outstanding shares of Pilgrim’s Pride Corp. (PPC), the second-biggest U.S. chicken producer, that were sold short by investors has soared more than six-fold since Sept. 30, while the ratio for Sanderson Farms Inc. (SAFM) has almost doubled.

The success, or failure, of the trade comes down largely on whether the eight-month surge in chicken, which has fattened producers’ profit margins, is over or not. Prices for the whole bird have been soaring to a record, partly the result of rising beef costs that prompted consumers to turn to poultry as a cheaper protein substitute. Chicken output will expand to a record next year as lower grain prices help producers hold down costs, the U.S. Department of Agriculture estimates.

“The main issue for the lower prices is going to be because of the additional supply,” Altin Kalo, a livestock analyst with Steiner Consulting Group in Manchester, New Hampshire, said in a telephone interview Nov. 24. “It’s a little bit of a guess as to how big and how explosive the growth is going to be. It’s happened many times in the past where production starts to ramp up a lot faster than people expect.”

[tclambert]

31. Somehow that reminded me of boneless chickens:

[xchrom]

33. perfect

[Hotler]

28. Happy Thanksgiving everyone.

Be well and stay safe.
Peace
Hot.

[xchrom]

29. i wish you and yours the very, very best! nt

[Demeter]

30. Merry Christmas to all, and to all....

Ooops. Flipped over two pages at once.

[Tansy_Gold]

32. And to you and yours, hotler

La vie est un naufrage, mais nous ne devons pas oublier de chanter dans les canots de sauvetage. -- Voltaire


"Life is a shipwreck; but we must not forget to sing in the lifeboats."




Today let us be thankful we have . . . lifeboats.