The falling price of rabbit futures
- Thursday, April 01, 1999
Commodity traders were chomping in anxiety today after bunny futures suffered their worst fall over seven years as the bunny supply continues to soar.
At the New York Mercantile Exchange, bunnies for April delivery closed down by more than a whisker at $4.52 lower. The market price remains at $21.77 per pack today amid signs that bunny exports to China may be disrupted with the brewing scandal.
At the COMEX, prices reflected the same shaving. "Maybe we can see the bunny hop back a few cents tomorrow," said bunny analyst I. M. Pink. He added, "Bunny farmers didn't adequately anticipate the multiplication phenomena of the industry which has led to a glut in supply."
Officials at the IEBE (International Easter Bunny Exchange) are rubbing their own feet for luck. Anxiety is rising about how far the price will fall before it sees a bounce. All analysts are keeping an ear to the street.
However, in the industry magazine, "What's Up?", Dr. Peter R. Abbott gave a sunny outlook as Chairman of the Opinion Group's Board of Governors. Abbott projects that May and June bunny prices may be brighter, "The Easter holiday demand for bunnies may in fact bring back the prices and save the industry."
Finally, representatives of the National Carrot Growers Association are worried that a natural disaster may be imminent if the supply of bunnies continues to go daffy. They are asking the federal government to intervene in order to prop up the bunny prices.
But after consulting their calendars, bunny speculators maintain that there is little validity to all this harebrained anxiety - especially considering today's date.
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