The NFL was penalized again yesterday in another company’s earnings call.
Joe F. Sanderson Jr., CEO of Sanderson Farms, one of the nation’s biggest poultry producers, said chicken wing prices have been slumping over the last three months citing NFL ratings declines over player demonstrations as a contributing factor.
“It’s just been reported to us that some of our customers think that their traffic is down because of the demonstrations by some of the NFL players,” he said on the earnings call.
This is the second company to speak directly on flagging NFL ratings as having an impact on earnings. Last month, Papa John’s CEO said the NFL flap was hurting pizza sales.
The second shoe is about to fall for bitcoin as it trades near $17,900.
Sunday evening the CME will begin its bitcoin futures trading. It comes a week after the CBOE began its futures trading.
Both trading platforms have a cash settlement for the trades. This is the key to price discovery for the crypto.
When you settle for cash, there is little impact to use the futures trade as an effective shorting tool.
That said I do not think we will see the same sell off on Friday that we saw last week in the run up to the CBOE’s futures beginning.