It’s still a bit too early to tell what commodity markets and finical markets will do following the coronavirus outbreak. Mike Zuzolo of Global Commodity Analytics and Consulting LLC, said with so much still in the air, what the actual demand hit or non-hit to the market will take place remains hard to determine.
“I think what we probably need to do at this stage and what I’m counseling, I think the futures market, we have to understand, is cutting right now in real time the previewed loss of demand. It’s looking at very little else. I think this is a very crucial time period for producers and ranchers to kind of step back and say, I see what’s happening, I think that in 20-30 days I’m going to have a lot better analysis and information from the people I work with to be able to make better decisions.”
Zuzolo added for now, farmers need to stay on course with their marketing plans.
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