While the remaining two AFC contenders prepare to do battle, fittingly in Heinz* field, this is a post about hamburgers and hot dogs. Tailgating at its best.
This is a chart of the livestock ETN, lovingly named COW, probably because they did not want to confuse it with PIIGS.
What is more interesting is how the COW ETN fell steadily in 2008 and 2009 and is now in a low level range while the futures on which it is based have rallied all the way back to previous highs.
My take is that livestock prices are rising but Wall Street once again has found a way to screw the public with this ETN. Who owned leveraged stock ETFs and watched them fall when stocks went up or down over time? (Yes, I know there is a daily reset). And what about the Oil ETN and the contango tango?
Get yourself a futures account and trade the real thing.
* Heinz is the giant maker of ketchup and other condiments