68Camaro wrote:Again, it won't matter what spot is, if the premium is $5 and spot is $19, the price will be almost twice what it was in early 2020. Not a super bargain. But if you're going to buy, yes, you should at least do it when it is down. I'm hoping the dip continues for a couple more weeks as the summer FUN show is second week of July and it would be nice to find a deal or.two there.
Early 2020 may have been the Ag buying opportunity of a lifetime. It was a rare event, but I think there is a good chance of it happening again.
I've said this a few times before and it hasn't happened yet, but I still believe the stock market will have another huge smashdown like it did in Feb/March of 2020 (for whatever reason) and ppl will be able to get some great deals, but you have to be QUICK and buy before dealers have a chance to raise premiums. Best timing for this would be Sunday night when the futures market opens at 6pm EST.
Recently the premiums have been dropping with the spot price declining, which is unusual, but premiums were already too high due to FOMO caused by the regional banking failures. Once the FOMO buying dried up dealers were forced to lower the premiums.