This is the first transaction to bring pure parametric Turkey earthquake risk to the market, and investor demand drove the price down
to a record low.
We actually went into contract at $275,000, but then the appraisal came in real low at $245,000, so that drove the price down
and we settled at $260,000.
On-course the supposed second string opened at 10-1 and 8-1 but a flood of money drove the price down
Speculative and fund selling on Friday drove the price down
to a $4600 low at which level the market closed for a week's loss of $140 per tonne.
Lettuce production remained level over the past two years, but as with celery, increased production in other areas drove the price down
If the sales drove the price down
, that would reduce the performance of the S&P 500 by more than it reduced the performance of that manager.