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Originally Posted by Willy_Weed
Say it ain't so. BTW seen RnT's mug on the CBC last night  |
Yepper, it's sad really but that's the way the cookie crumbles for now. I've been lucky enough to secure hops for the brewery for the next year at least - at a 480% price increase! The Garrison Imperial Pale Ale is becoming a very expensive beer with well over $2000 in finish hops alone in every batch, plus malted barley prices have doubled also
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In afterhours trading, hops market all but seized up. Hops futures soared 320% on news of vast hoarding of frozen hopleaf in Iceland warehouses controlled by Hedge Fund operators in Russia and Northeast US. Hops commodity traders on the floor of the Chicago exchange report that several prominent banks, including Bank of Wachovia have suffered huge losses as the hop market whipsawed late this afternoon, as they desparately tried to cover there short hops positions. Standard and Poor issued several downgrades earlier today on companies growing, trading and investing in hop futures and contracts. John Noble, chief hops trader at Bear Sterns said in interviews after the close of market, "I have never seen such a perilous situation in the hop market in 27 years. Exploding imbalances in the market will probably result in dramatic price increases for the forseable future." Iconic hop analyst and noted hop bear Bland Imbiber of Morgan Stanley in a note to his "Hop Insider" newsletter clients opined, "this may be the end of bitter beer!"
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