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Trader war as China imposes tariffs on US chickens

Tue, 09 Feb 2010 03:33:53 EST

MohdSalleh in the Wall St. News forum:

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China to put duties on US chicken

Page last updated at 11:27 GMT, Friday, 5 February 2010

China is to enforce anti-dumping duties on US chicken imports, accusing American poultry firms of exporting the meat at unfairly low prices.

In just the latest in a series of trade disputes between the two countries, China's Commerce Department said the tariffs will start from 13 February.

China launched an investigation into US chicken in September, a day after the US put tariffs on Chinese tyres.

President Obama said this week he would get "much tougher" with China on trade.

Tensions between the two nations have been further exacerbated by the US president saying on Tuesday that he intended to go ahead with plans to meet the Dalai Lama, the Tibetan spiritual leader, despite China calling for the meeting to be abandoned.

Beijing has also been angered by the US's new $6.4bn (£4bn) arms deal with Taiwan.

'Hurting Chinese producers'

The duties will primarily hit exports of US chicken wings and feet to China, a big business for US poultry companies.

Both products are considered delicacies in China - especially chicken feet, which are not popular in the US.

As a result, the price they sell for in China is much higher than in the US.

"Chicken feet and wings are not wanted in the US so they sell them to China, they dump them below cost," said Wang Xiulin, president of the Chinese Poultry Association.

Ò The US will pay a heavy price if it intends to engage in a new Cold War with China

"For over a decade, the US has sent big volumes of chicken to the Chinese market, hurting producers here.

"Last year, the Chinese poultry industry was really hurting so we asked for this investigation."

The duties will differ across the various main US chicken firms, with Tyson Foods having to pay 43.1% on top of its current Chinese prices, Pilgrim's Pride an additional 80.5%, and Sanderson Farms an extra 64.5%.

The Commerce Department said its ruling was a preliminary one, but did not give any indication of when it will make its final decision.

The US Trade Department has yet to comment on the case.

'Wrongful accusations'

President Obama said on Wednesday that he would adopt a tougher line in trade disputes with China.

The US is particularly concerned with the Chinese currency, the yuan, which it accuses Beijing of keeping deliberately undervalued so as to give Chinese exporters an unfair advantage.

The Chinese government has consistently denied this claim, saying earlier this week that "wrongful accusations and pressure" would not help trade relations between the two countries.

The two nations have also had trade rows over Chinese clothing and food exports, the high level of music and film piracy in China, and the access of US firms to the Chinese market.

Nassim Taleb: Not enough evidence that Buffett isn't just lucky

Tue, 09 Feb 2010 02:50:42 EST

Daal in the Wall St. News forum:

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http://www.ai5000.com/ai5000/20100102#pg11
http://www.assetinternational.com/ai5000/channel/ETERROGATIONS/Nassim_Taleb___continued_from_ai5000_Magazine.html

Stock futures greeks

Tue, 09 Feb 2010 01:58:48 EST

NHS in the Financial Futures forum:

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I want to combine stock options and stock futures and I was looking for input on how to set the values for the Greeks. For stock options I can caculate the greeks. Regadring stock futures I understand that delta should be 1, theta should 0, Vega should be 0, but what about Rho?

Thanks for any input

The cost of eurozone disunion is 55bps, Deutsche says

Tue, 09 Feb 2010 01:24:52 EST

ASusilovic in the Wall St. News forum:

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Heres a CDS curio for you to ponder this Tuesday.

The analysts on Deutsche Banks fixed income team have done some number-crunching/modeling and come up with some interesting perspectives on how eurozone CDS stacks up against the US and UK.

If youre interested in the methodology used, click here to see it. To keep things short though, well just say the analysts have constructed a sort of deficit indicator, made some fiscal adjustment estimates, and linked the two to CDS spreads of individual euro-area countries plus Britain and the States.

Using that methodology, Deutsche Bank finds that UK CDS is 57 basis points too low, while US CDS is 90bps too low relative to the pricing action in the eurozone countries. Why the discrepancy?

Heres what they think:

The relatively expensive level of European CDS relative to the US and the UK can be interpreted as the cost of fiscal and political dis-union. The sum of the individual credit risk of the EU sovereigns is greater than the credit risk of the Eurozone as a whole. Extrapolating from the UK and US CDS, one can infer that the cost of fiscal dis-union in Euroland to be around 55bp.

And heres the chart:

For the alarmists and scramongers...

Something big is about to happen

Tue, 09 Feb 2010 00:44:48 EST

Gcapman in the Trading forum:

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For those who are skilled chart analysts.....you guys know what I'm talking about

Mark my words yesterday about a 40 point S&P drop Tuesday!

http://www.elitetrader.com/vb/showthread.php?s=&threadid=190423

FXCM Platform Updates

Tue, 09 Feb 2010 00:23:40 EST

Gcapman in the Forex Trading forum:

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http://www.fxstatus.com/

Also, keep in mind that in case of connectivity troubles, ALL traders are encouraged to call trading support -- this means mini-account holders as well

E-Mini- S & P 500: what time frame and Charts do you use to trade them daily ?

Mon, 08 Feb 2010 21:58:26 EST

pineman in the Index Futures forum:

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For the active Day traders in S&P -E Mini, what time frame do you use to Day trade...? ...For example, do you use Tick by Tick, 5 min, 15 min, 30min, etc ? Also , what chart pattens do you apply ?

Beginner Question on Naked Put selling

Mon, 08 Feb 2010 21:51:49 EST

AlphaGeneration in the Options forum:

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I'm considering selling naked puts but would like some help understanding the terminology/conditions for trading:

My broker has the following requirements when doing a naked put:

Initial requirements: 20% of CMV minus out-of-money amount or 10% of strike price, whichever is greater

Maintenance Requirements: 20% of CMV minus out-of-money plus premium, or 10% of strike price plus premium, whichever is greater

I have a margin account. Can someone explain both requirements (perhaps best through a basic example).

Thanks in advance- I appreciate the help.

newbie question---low volume options

Mon, 08 Feb 2010 20:57:13 EST

indo in the Options forum:

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I would greatly appreciate answers to the following questions:
1. Options with low open interest and low volume, how easy is it to get out of them and is the market price of the option strictly based upon the price of the stock and time to expiration? I've seen options with no volume on some days and there is a huge difference between the bid/ask.

2. I would also like to know what happens to an in the money option which reaches the expiration date? Ie A call option where the price of the stock is much higher than the strike price.

3. Finally what s the least amount of open interest would you recommend when trading less than 10 contracts.

Thanks

Long on NVAX .. Should i hold or sell ?

Mon, 08 Feb 2010 20:56:39 EST

raagi2000 in the Stocks forum:

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I am fairly new to this forum and need expertise advice on NVAX bought @ 2.85. now it is around 2. thank you

CFTC Leverage Decision Timeline

Mon, 08 Feb 2010 20:12:29 EST

Gcapman in the Forex Trading forum:

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I'm thinking............................

Comment window closes: March 22
Final decision: May 1

Leverage Implementation: June 1

Schneider Trading Associates

Mon, 08 Feb 2010 19:53:00 EST

thetrendfollowe in the Prop Firms forum:

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Hi,

If anybody is currently with these guys (or have been previously) either in London or Singapore or remotely, please PM me.

Cheers.

How do I place an order for future price?

Mon, 08 Feb 2010 19:39:01 EST

TraderTactics in the Trading forum:

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how can I place an order to trigger at a price i want which is ahead of the current market price?

what's good about market neutral trading strategies?

Mon, 08 Feb 2010 19:35:19 EST

mizhael in the Strategy Trading forum:

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Anybody can give me some pointers about "market neutral" trading strategies?

In my backtest, if I make my positions dollar-amount market neutral, the results were good; but when I changed my positions to other weightings, the results are bad...

I began wondering why "market neutrality" is good...

Any thoughts?

Thanks a lot!

World's Tallest Tower closed. Electrical excuse used as pretense.

Mon, 08 Feb 2010 19:02:56 EST

wilburbear in the Economics forum:

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Empty commercial real estate all over my top-10 city in the U.S., too..........

http://news.yahoo.com/s/ap/20100209/ap_on_bi_ge/ml_dubai_tallest_building