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Cotton Shocker! Well not to some of us!
So gee, let’s see…I have been screaming from the rooftops that in 2009 we would see a huge shortfall of cotton because of over planting of corn and soybeans and low cotton prices. Voila!
USDA just in with this “breaking news”
U.S. cotton acreage hits quarter-century low
From Mpls/Star Tribune
June 30, 2008
U.S. cotton acreage has hit its lowest level in 25 years as farmers have continued to shift to higher-priced corn and soybeans. The U.S. Department of Agriculture, in a report released Monday, estimated total cotton acreage at 9.25 million, down from 10.8 million acres last year and the lowest level since farmers seeded 7.9 million acres in 1983. For cotton to be competitive with corn and soybeans, the price would have to exceed $1 a pound, said Jess Barr, executive vice president of the Louisiana Cotton Producers Association. Late Monday morning, the December futures price was under 80 cents a pound.
The best part is cotton pulled back on the news….BUY EM!~ 77 bid for a 1000….Looks like Burlap will be the new haute couture in 2009.
Hey I just got this really nice e-mail from a subscriber…
Dear Kevin,
I’m SO mad at myself! I bought the 1600 Sugar Call and then watched it drop. When it was down to 3, COMMON SENSE told me to load up on them - but I’m new to trading and had cold feet. Last week when they were 11, I even talked to my broker and ended up NOT adding more sugar. Now I see sugar jump from 12 to 20+ OVERNIGHT!
I was DUMB and too dang cautious! So this a.m. I have just added 4 more 1600 calls at 27 or better. If I had not second guessed myself weeks ago and had bought at 3, I would have made a pretty nice little profit already. There’s no way I am going to set back any longer, watching this call move higher and kicking myself that I didn’t jump in for more calls when the price was lower.
You, Mr. Kerr, have NOT caused me a loss yet in the trades I have entered. I’ve doubled my money since October. Granted I started with a modest amount in my account and haven’t been able to enter every trade you’ve recommended. I truthfully set aside 1/2 of what I’ve made over the years playing Black Jack (my one vice) to gamble on your RTA. I have stewed, and simmered, and obsessed over every trade I’ve entered - just like a hand of cards. And it’s paying off!
Now that my little ‘gambling’ account is adding up, I’m able to enter all of the trades you recommend by reinvesting my earnings. I only wish my Roth and Traditional IRA’s and my 401k had done as well over the past six months as my RTA has! (My stockbroker advises that I have done better than most, but the stocks have still lost money.) True to your advertisement, right now commodities are where the money is.
I just wanted to send you a heartfelt THANK YOU! Wish me luck on the sugar, Sue R
