Putin Blockade Pushes Food Costs Down, Good For Consumer

TheStreetAugust 13, 2014

TheStreet's Jim Cramer says Putin-hurts-chicken-farmers story-is a classic example of how a huge positive is getting turned by the press into something dastardly. Ever since Putin put the food block through the price of all of our foodstuffs have been in virtual freefall. Hog futures which had been soaring not that long ago, are now tumbling the maximum amount allowed and are back to where they were March 18th. We are now in the midst of a wholesale retreat in prices for virtually every commodity, except for cheese. The whole commodity consuming industry, the consumer packaged goods business, is now beginning to get a windfall. It may not be able to offset the rising dollar, but it's powerful and it's real and Putin just gave investors the last piece of a very positive new puzzle.