Ocean Freight Plunges

[errolanderson]

The Baltic Dry Index has now collapsed 50% since early October . . . . Shipping costs are coming down sharply.

[errolanderson]

China to Long Beach container rates continue to decline. Last heard, container rates around $9,200. Still more than double last year, but well below the insane $20,000 to $24,000 rates heard early fall.

Supply chain congestion now appears clearing stateside. Apparently, getting ship crews totally vacinated when switching ships is still a hold-up.

Inflationary pressures may now be peaking (IMO). Expect base industrial commodity prices to remain under pressure. Fallout in energies now have diesel and gasoline prices in-decline.

Gold and silver have taken heavy hits this week. Some anaysts suggest this is a sign of ebbing inflation. We’ll see . . . .

[BTO780]

China to Long Beach container rates continue to decline. Last heard, container rates around $9,200. Still more than double last year, but well below the insane $20,000 to $24,000 rates heard early fall.

Supply chain congestion now appears clearing stateside. Apparently, getting ship crews totally vacinated when switching ships is still a hold-up.

Inflationary pressures may now be peaking (IMO). Expect base industrial commodity prices to remain under pressure. Fallout in energies now have diesel and gasoline prices in-decline.

Gold and silver have taken heavy hits this week. Some anaysts suggest this is a sign of ebbing inflation. We’ll see . . . .

Would sure be nice to see fertilizer prices take some heavy hits. Absolutely gone off the rails.

[errolanderson]

Would sure be nice to see fertilizer prices take some heavy hits. Absolutely gone off the rails.

Inflation readings are now coming down. Fertilizer will eventually smell-the-coffee, but it’s going to take time (IMO).

[shtferbrains]

How can inflation drop when our weak leaders think the solution to everthing is print more money and run bigger deficit spending.
Less people working but everybody gets paid.
Unions see thier members wages don't buy as much and ask for big rate increases and get it. Just happened at JD, Cargill meats next?
Shortages of all kinds of things with prices rocketing.
I will give odds inflation will be double digits before spring.

There's your reset.

[errolanderson]

How can inflation drop when our weak leaders think the solution to everthing is print more money and run bigger deficit spending.
Less people working but everybody gets paid.
Unions see thier members wages don't buy as much and ask for big rate increases and get it. Just happened at JD, Cargill meats next?
Shortages of all kinds of things with prices rocketing.
I will give odds inflation will be double digits before spring.

There's your reset.

The pain of debt reconciliation has begun. The anti-inflation tonic . . . .

[Hamloc]

Would sure be nice to see fertilizer prices take some heavy hits. Absolutely gone off the rails.

Latest price I heard on Urea is $1285 a tonne. Absolutely gone off the rails is right.

No doubt big spending governments in Ottawa and Washington will simply keep inflation going up. I agree that we are now seeing larger wage settlements which will keep inflation going long term. This belief that inflation is temporary is wishful thinking in my opinion..

[shtferbrains]

The pain of debt reconciliation has begun. The anti-inflation tonic . . . .

Sure hope your right but I don't see it in North America.
Brandon wants 1.8 trillion for a green reset? Run those printing presses.

[AlbertaFarmer5]

Once higher wages get baked into the cost of everything, it becomes nearly impossible to roll back the cost of the finished good or service, and these new price levels will become permanent.

[errolanderson]

U.S. port congestion clearing.

Breaking Port of Los Angeles stats-
Imports down 38%, 9+ day aging containers down 53%
Vessels at anchor stand at 58. All of the above over the past 30 days.

Suspect ocean container rates will continue to fall.