Previous close | 64.76 |
Open | 64.56 |
Bid | 64.82 x 250000 |
Ask | 64.94 x 250000 |
Day's range | 64.56 - 65.22 |
52-week range | 57.82 - 72.30 |
Volume | |
Avg. volume | 96 |
Market cap | N/A |
Beta (5Y monthly) | N/A |
PE ratio (TTM) | N/A |
EPS (TTM) | N/A |
Earnings date | N/A |
Forward dividend & yield | N/A (N/A) |
Ex-dividend date | N/A |
1y target est | N/A |
Cocoa prices (CC=F) briefly hit an all-time high on Tuesday, reaching over $10,000, as consumer strength remains high and supply is constrained. According to a Bloomberg report, poor crops in key West Africa growers are in part responsible for what could be the third straight annual supply deficit for the world. Yahoo Finance Reporter Brooke DiPalma joins the Live show to discuss cocoa price drivers and their impact on confection makers. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino
(Bloomberg) -- Cocoa futures surged above an unprecedented $10,000 a metric ton on Tuesday before erasing gains and taking a breather from a historic rally that has seen prices of the key chocolate ingredient double this year.Most Read from BloombergTrump’s Net Worth Hits $6.5 Billion, Making Him One of World’s 500 Richest PeopleBiden Gains Ground Against Trump in Six Key States, Poll ShowsTrump Vows to Pay Fraud Trial Bond Cut by 68% to $175 MillionVital Baltimore Bridge Collapses After Being S
Hershey, Mondelez and other confection-makers are employing promotions and pitching more non-chocolate Easter treats like cookies 'n' cream bunnies at a time when soaring cocoa prices threaten their profits and shoppers balk at high prices. With shoppers' "impulse buys" of chocolate and candy at convenience stores and in grocery checkout lines down, according to industry data, special occasions like Easter and Halloween are increasingly important to the companies' sales. Cocoa prices have tripled over the past 12 months thanks to bean disease in West Africa, which continues to worsen, meaning companies are not expected to get relief anytime soon.