Analyst expects “boom or bust” price pattern in 2023
A market analyst anticipates a “boom or bust” price pattern in 2023.
David Hightower of the Hightower Report says volatility is likely to continue in all commodities.
“If you have enough supply, they can really pressure prices. And if you don’t have enough supply, they can really explode prices.”
He tells Brownfield it’s possible inflation could stick around next year.
“Because just because we’re raising interest rates, wages are rising (so) people won’t work. Energy prices are going to be massaged higher.”
If that’s the case, he says hedging will be “hugely important” as farmers manage high input costs.
Hightower was a keynote speaker during the recent Unconventional Ag Conference in the Twin Cities.