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To: Maurice Winn who wrote (88270)3/22/2012 2:47:25 PM
From: The Jack of Hearts
1 Recommendation   of 106750
 
Of course it's boring.. I agree.. just like first nations here wanting snowmobiles, rifles, internet etc etc but wanting to hold onto the 'old' ways...

The interesting part was that it was the Victorian age... which I guess explains much of the world's present woes ;o)

Just couldn't resist.. since you put so much store in that era... and it's values..

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From: elmatador3/22/2012 2:57:02 PM
   of 106750
 
farmers to plant early Warmest March ever only once, in 1946, during the past 100 years has there not been a frost between mid-March and mid-April.



By Michael Hirtzer

CHICAGO | Thu Mar 22, 2012 10:30am EDT

CHICAGO (Reuters) -

Ethan Cox is sowing corn on his 5,000-acre Illinois farm earlier than ever this year, betting that the premium he may collect for delivering an early crop is worth the risk of a damaging late-spring frost.

Lured into the fields by what is so far the warmest March since records began in 1871, Cox is toiling alongside dozens of farmers across the Midwest who have begun seeding what may be a record crop weeks earlier than usual, according to agronomists, farm managers and analysts who keep close tabs on farm activity.

His crop may miss the peak summer heat of July and reap an extra 60 cents a bushel in September if his gamble pays off. Robust ethanol demand and years of low domestic inventories have placed a near-record premium on corn that can be delivered at the end of summer, when grain bins are empty and before the main harvest.

But the risks are high too: planting so early means forsaking some types of crop insurance; and despite the exceptionally mild winter, odds favor another chill at least once this year. Only once in the last century has the Midwest avoided frost between mid-March and mid-April.

"It's going in good but we have fear that it might come too quick and a frost will come and kill it," Cox said as he took a break from seeding the first 400 acres on his farm in Greene County southwest of Springfield.

While the vast majority of farmers will opt to wait until nearer April 15, the average last freeze date, anecdotal reports suggest a record number have already begun.

In theory, the early push puts more of the crop at the mercy of mother nature; in Chicago, however, traders are reckoning that eager farmers may decide to seed even more acres early with corn rather than saving space for soy.

The December corn contract, which reflects a harvest-time price, declined each day this week, shedding 3.4 percent to $5.55 per bushel, a two-week low, in a technical sell-off in addition to ideas aggressive planting will produce ample corn.

"The weather is so good thus far that there are reports, and we suspect very good reports, of corn being already planted in Iowa, Nebraska and Illinois," said influential investor Dennis Gartman.

He told Reuters this week that he sold a "very large" portion of his corn position.

Chicago traders said investment funds sold an estimated 36,000 contracts this week, the largest sell-off yet this year.

The stakes are higher than ever this year. Every bushel of a bumper U.S. corn crop is needed to replenish corn stocks, which are expected to shrink to the smallest in 16 years before the autumn harvest. Any harvest shortfall could send prices surging back toward their record of $8 a bushel, driving up costs for consumers and meat companies.

LURE OF SUMMER

Summer-like conditions of clear skies and temperatures in the 70s and 80s degrees Fahrenheit have prevailed this month to stir farm activity weeks earlier than usual, farm experts say.

Soil temperatures across Illinois are above 50 degrees Fahrenheit (10 degrees Celsius), which is necessary to promote seed germination, according to the Illinois State Water Survey.

It is unclear how many farmers have begun planting so far. USDA does not issue weekly planting updates until after its prospective plantings report, due March 30. That report estimates seeding intentions of the major U.S. crops.

"We probably have several thousand acres planted statewide, in that low 1-percent range," said John Hawkins, spokesman of the Illinois Farm Bureau. "It's more than a handful but less than a mad rush."

The state harvested 12.4 million acres last fall.

Last year, USDA put out its first corn plantings estimate on April 11, estimating overall plantings at 3 percent complete, with Illinois 1 percent done.

Most farmers in the Corn Belt do not begin planting corn until the first or second week of April, both because of the likelihood of a killing frost and for insurance purposes.

Crop insurance policies do not cover replanting costs if farmers plant before the earliest seeding date, which in most of Illinois, Indiana and Ohio is April 6. For top corn growing state Iowa, that date is April 11.

Corn plants can emerge in as little as five days after planting and once the plant is out of the ground it is at risk of being damaged by a frost or a hard freeze. A "hard freeze" of temperatures at or below 28 degrees F (-2 degrees Celsius) could kill a plant in less than five minutes.

The average last freeze in central Illinois falls on April 15, according to National Weather Service meteorologist Chris Geelhart. In 1999, the last freeze was on March 29; in 2005, the ground froze in early May.

Elwynn Taylor, Iowa's state climatologist, said that only once, in 1946, during the past 100 years has there not been a frost between mid-March and mid-April.

"There's no reason for it not to be two times out of a hundred. We are hotter now than we were in 1936, so we are beating the Dust Bowl for this time of year," Taylor said.

RACE TO EARLY HARVEST

Plantings also got off to early starts and quick finishes in 2004 and 2006. Yield results varied, jumping to 160.3 bushels per acre in 2004, up 18 bpa from the previous year, while the yield in 2006 climbed only 1.2 bpa from the previous year.

Early planted corn can begin pollinating by June, allowing the plants to go through a crucial development stage before the hot weather of July.

Meteorologists widely expect temperatures to remain above normal for the next week to 10 days, with the extended 14-day day forecast also hinting at the continuation of warm weather.

But the greater rationale for early planting is the opportunity to capture a premium for grains delivered to buyers like Cargill Inc or Bunge Ltd before the height of harvest.

Tight supplies last summer pushed cash corn prices to record highs across the region as grain buyers scrambled for the grain to supply the first purchases of U.S. corn by China in four years. Increasing demand from ethanol refineries, which now use 40 percent of the domestic crop, also has increased demand.

"This early planting means harvest will likely be early as well," said Karl Setzer, analyst at MaxYield Cooperative in West Bend, Iowa. "A result of this will be the ability to pick up the (price) increase in the market between old and new crop. In many cases this will add $1.50 of revenue to a bushel of corn."

Cox knows that too. He inked a contract to deliver 40,000 bushels, roughly 15 percent of his harvest, to an export terminal owned by CGB Enterprises Inc along the Illinois River in Naples.

If he delivers the grain in the first half of September, he will earn a 60-cent-per-bushel premium, bringing his total to $7.60 per bushel, a haul of $304,000. It would be his most valuable contract ever. If the corn is not ready until the second half of the month, he forfeits the premium.

Cox, however, also has a second motive behind the rush.

"Our oldest daughter is expecting her second grandchild around the first of April," he says, "so I wouldn't mind getting the work done so I can spend a few days with them."

(Additional reporting by Julie Ingwersen; Editing by Bob Burgdorfer)

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To: Haim R. Branisteanu who wrote (88262)3/22/2012 3:36:47 PM
From: Brasco One
   of 106750
 
the girls at the gym are all wearing LULU, nike or other brands seem to be out of fashion. lulu has a huge cult following, i personally dont like the brand, but the girls love it. its also no longer yoga clothes, girls buy it for the gym, running, ect...

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To: Brasco One who wrote (88275)3/22/2012 3:49:48 PM
From: The Jack of Hearts
   of 106750
 
Last spring at Whistler.. my nephew was checking out LuLu pants for men..

You're OK when you are calm LOL Last time I posted to you I recall I was asking you to go away...

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To: 2MAR$ who wrote (88266)3/22/2012 4:03:12 PM
From: Haim R. Branisteanu
   of 106750
 
Thanks, - $100 they are out of their mind at least if it was some fashion involved they seem to be just "fluffy" pants. I do not believe that the stock should go to the valuations it did - I think LULU is a great short for the patient investor. No garment company can sustain those margins. Imitations will surely arrrive.

Margin details
For the quarter, gross margin was 56.3%, 220 basis points worse than the prior-year quarter. Operating margin was 31.2%, 140 basis points better than the prior-year quarter. Net margin was 19.8%, 250 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $257.7 million. On the bottom line, the average EPS estimate is $0.30.

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To: Brasco One who wrote (88275)3/22/2012 4:08:13 PM
From: Haim R. Branisteanu
   of 106750
 
thanks - classic stock to short as it is a "fade" stock nothing else - all is in the hype and the hype or "cool" can dissipate in a matter of months if not weeks

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To: Haim R. Branisteanu who wrote (88278)3/22/2012 4:47:36 PM
From: Brasco One
   of 106750
 
"fade" stock<<<

I have shorted LULU pig many many times. Only one time i made decent money on it and all the other times i had small losses on this pig.

i used to think this was a fade too. but i think the brand is here to stay. try telling a girl that wears the garbage that this is a fade and see how they react. they are in love with the brand.i personally dont see it go out of fashion anytime soon, i only see more and more people wearing it.

i went after DECK, the makers of those ugly UGGS in december. The pig used to trade over $100. now its 67. My reasoning was that they were going out of fashion. i wasnt seeing them around as much as few years ago. now i think they are hurting and less people are buying them.

all imo, good luck.

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To: Haim R. Branisteanu who wrote (88277)3/22/2012 4:51:58 PM
From: 2MAR$
   of 106750
 
Yah , that's been the short thesis all along , what is the barrier for entry for another to knock them off ?
You can see the stock did take a hit when market in negative mode but doubled back up because for this timeframe the street knows the revs would still be there . But seems so many could duplicate ?

$90 for what looks like extra heavy tights !! Some really expensive TuTu's ;o)
shop.lululemon.com 

Just a great following & phenomenon , they are really well made & extremely comfortable for the girls and just leave it to Black Swan's people up north in Canada to be the best world sourced overprced knitted underwear/yoga pants !

*After the stock started topping over $76 today , flipped to the dark side taking test shorts first from $76.30 that saw one pulback & another trip up to $76.60. Rule of market now is hedge funds to run many up as far as they can having shorts so stretched already to milk them all they can right after earnings , we'll see what it does from here .

(Analyst's darling too makes them look like geniuses etc)

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From: 2MAR$3/22/2012 5:19:05 PM
   of 106750
 

Bernanke: Economy lacks strength to sustain gains Bernanke says consumer spending remains weak and economy lacks strength to sustain gains


WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke says the economy still lacks enough spending and investment to sustain its recent gains. Bernanke says consumer demand remains weak relative to its level before the Great Recession. He notes that other contributors to economic growth — including borrowing and trade — have declined. His comments provide further insight into the reasoning behind the Fed's plan to hold short-term interest rates near zero through 2014. The central bank has stuck with that timetable despite three months of strong job growth and other signs of economic improvement. Bernanke made the remarks during the second of four lectures he is giving to George Washington University students this month.

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To: 2MAR$ who wrote (88281)3/22/2012 5:27:12 PM
From: bart13
   of 106750
 
*duh* - he's not pumping much:


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