Don Coxe – Look to Jackson Hole for Central Bank Action
Veteran commodities maven and Global Strategy Advisor for BMO Financial Group Don Coxe tells Eric King that the Farmers may be in a major drought, but crop insurance and other government programs will keep a majority of today’s farmers from being wiped out.
He says that the rough conditions are causing farmers and ranchers to sned their livestock to slaughter early driving down food prices in the near term, but that will result in higher prices later this winter and next year. He says that the selloff on ag-related stocks makes no sense given the facts.
Coxe says that China is taking the place of Indian gold buying which is missing in action due to a delayed monsoon.
The popular strategist thinks that if there are going to be any dramatic policy changes to be announced, they will likely come from the Jackson Hole gathering of the central banker high priests in August. – Much more at the audio link below.
Source: King World News