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Smucker Hikes Coffee Prices For 4th Time In A Year
It may be time for the CME to hike some coffee margins as prices for the legal drug are starting to get out of control. According to Dow Jones, Smucker has just increased its average coffee product price by 11% in its 4th price hike in just the past year. This, along with all other comparable deflationary developments (according to some) could not have been foreseen by anyone, and will lead to the Fed's Elizabeth Duke discussing next year how, very inexplicably, America's low and middle classes are forced to choose between espresso shots and toilet paper.
From Dow Jones:
The food company, which also makes jams, jellies and Jif brand peanut butter, said the move is driven by sustained increases in green coffee costs. It disclosed similar price increases in February, August and last May.
The increase applies to such brands as Folgers, Dunkin' Donuts and Millstone.
Smucker reported an 11% increase in U.S. retail coffee sales for the nine months ended Jan. 31, while profit during that period grew 12%. But the commodity is being stung by higher prices for coffee futures due to strong demand in emerging markets, disappointing harvests and speculative trading. Those factors have led retailers to increase prices in order to pass along some of the cost to consumers.
Look for Goldman to lower its coffee price target imminently on the "global supply/demand outlook", promptly followed by a price target hike a month later on the "global supply/demand outlook."
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Funny 'cause it's true.
Actually Goldman will raise it in the hours of 6am till 11am..then lower it for the afternoon...then raise it for the after dinner coffee time..then lower again for sleepy time...
http://www.youtube.com/watch?v=fWacc6L9NoU
speculators..
I like my coffee....
But there are some things to stay away from.
+1
what the fuck, and this is news. damn coffee stortages.
Important news!
No Coffee No Workee!!
And as ALREADY +40 MILLION American take this literally, the GOV. must increase margins on Coffee to decrease unemployment!
Can one have an espresso shot without TP? Just asking because i thought they are correlated.....or perhaps causation is at work on that pair?
Summer is near. Corn husks will be plentiful. Who cares about TP but don't touch my morning coffee.
A student from Kalamazoo
Loved coffee, but lacked funds to poo
So the next time he shat
He cleaned-up like a cat
Which affected the taste of his brew
First Prize!
+ ewwww.....
DeadFred: Spoken like a true Midwesterner:
Summer memories of corn silk in your shorts...
Long SJM, toilet paper (physical) and coffee (physical) here.
Amerika - One cup of coffee away from revolution.
bummer it's decaf...
We need our honorable government to institute price controls across the board! haha
We need an "honorable" government to do alot of things. Like Seppuku.
Edit: In fact, if we had politicians who did this, I would have a completely different (favorable) view of American politicians.
And silver appears to have broken out of the doldrums.
The bidding algos have correlated and trapped the ask algos right now.
It's just transitory...
I think we need some hearings on this price gouging by "Big Coffee"
/s
Any chance at all that the markets reverse and close lower? Sadly I think not. The DXY will maybe rise a bit until noon when it crashes lower as it has for the last few weeks on nearly every single day.
My God....please let them choose the toilet paper!!!
T.E.I.N. everyone!
VP Joe Biden "Summer of Recovery" Take Two.
Commodities (no coffee yet), FX, equities, disected for your viewing pleasure
http://deadcatbouncing.blogspot.com/
In my area it has worked this way: First they raised the price of a can of coffee $3, then they made the can ....smaller.
Thank mammon there's no inflation.
The only good thing about EU bureaucracy is that makes shrinkage inflation more difficult for producers to implement. However, since my cheap grocery store coffee is now more than $10 per pound now after a 10% increase this month, that is not much consolation.
Sorry, I don't have a square to spare...I just want one square...You don't have one spare square?...I don't have a square to spare...Take some Decaf, already!
I drink Tea... lipton! bitchez!
Coffee Bitchezzzz....
Come on, that should have been the first comment!
You see it less and less.
Maybe you should have said "No Coffee Bitchezz" That might make more sense.
I roast my own beans. You can buy green beans on the web, roast them yourself. I do it in a cast iron frying pan. So simple. Delicious.
Maybe you should grab a shovel. I bet it only costs $5 to dig coffee out of the ground. Winning!
? And what do you call it? 50$ DIY COFFEE THAT TASTES LIKE SHIT?
An air popper works much better....
And this market is ridiculous. Any move lower is immediately met with a few down ticks in the DXY and a corresponding tick up or two in the Dow. I'm honestly an idiot for not BTFD yesterday...I'm still short...do you really think this market will be allowed to fall by 200+ pts in a day? Only if they lose control, and even then you're likely to be screwed if you're holding puts because they will close the market. Stacked deck...not winning.
Plunge Protection team at work?
http://en.wikipedia.org/wiki/Working_Group_on_Financial_Markets
Coffee is hot these days, and so are coffee related stocks. People switch to beer in the summer so let's wait for the full year report. Meanwhile I may as well buy some good coffee if Folgers is $10.
To the barricades!! We cannot stand still for this!
DON'T WORRY!!
DO LIKE ME AND SWITCH TO RED BULL IN THE MORNING!!
WWHHHAAAAAAARRRhhhhhhhh!!!!!!
Rapidly rising coffee prices may be what we need to get the lethargic American populace to the streets. Expect the comex "espresso massacre" margin hike takedown to be swift and brutal.
A caffeinated sheep is a controllable sheep.
Buy the brands that have a money back guarantee. Many of the cheaper store brands have it. Call up and complain say the no only did they raise the price but the taste is worse. Give me a another one free.
Truth is taste may have changed due to formulation or cheaper coffee.
Probably get free coffee for a year working it this way.
Consumers in developed nations will soon adopt the defecation practices of the Middle East. Just don't offer your left hand to shake while meeting new people or closing business transactions, as this is the ultimate insult.
I would not recommend choosing espresso over toilet paper. That will not end well.
Toilet paper is overrated.
Coffee is a true necessity.
TP=$$$$ just use FRN's it will be cheaper
Coffee=total necessity and there is no substitute.
They can buy a regular coffee at Starbucks and take their crap there...
Wait, I thought Folgers was a sawdust product...
I can eat my iPad, but this one is gonna hurt.
Yeah, but how can I guarantee delivery of my coffee futures?
With a name like Smuckers you know it has to be expensive.
Ah yes the Trucking will slow or stop as the Drivers pass out from lack of Coffee.
/sarcasm.
Bout ready to start buying coffee by the case and ignore it the rest of the year.
French Press to relieve American Distress (over percolating coffee prices!) :>D
this is sad if it implies inflation....inflation only happens when people expect it to happen....thus everyone needs to stop expecting inflation so that it will go away....and think non-inflationary thoughts....just like the chairsatan of the fed has urged....