How Pork Bellies Provide Insurance

News last week of Merrill Lynch's (MER Quote) exit from the nonenergy physical futures business, which came right on the heels of Refco's acquisition of futures broker Lind-Waldock, was greeted with a yawn. A front-page capsule in The Wall Street Journal noted "small investors have turned their attention to dot-coms from pork bellies."

Pork-Belly Rollover Trading volume in pork bellies has fallen to levels not seen since The Beatles came ashore

Four-week rolling average. Source: Bridge/CRB Infotech

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