cranberry futures
I was passing the time of day with a friend of mine at the end of the check out in the food emporium frequented by Teapot and myself earlier today when he pointed to three packs of cranberries."These are for next Christmas " said he. "I will freeze them and make a cranberry jelly next year. You know there was a shortage this year".
I asked if he would be buying next year's Christmas cards in the sales but he said not.
It made me think. What happens if his family become vegetarians and they no longer need cranberry jelly? What if there is a turkey shortage next year? How does he feel if there is a glut of cranberries next year and the price collapses? Just the kind of risk someone faces who buys in advance, or forward as the commodity traders call it.
My dad was a wool buyer for a felt manufacturer in Lancashire. The price of wool futures for was one fact he had to conjure with as he planned what to buy against the planned and hoped for demand for the factory's products......and woe betide him if it went wrong!
Nearer home I thought of other friends searching the supermarket aisles to make sure they are prepared for next Christmas........with venison ( or is it reindeer) steaks for the freezer, Christmas pudding by the tonne, and not forgetting brandy butter (now how do you store that?).
I wonder what Christmas pudding future prices are right now......pass me the Financial Times!








