Home Ohio Country Journal Fear driving markets and consumer behavior

Fear driving markets and consumer behavior

By Jon Scheve, Superior Feed Ingredients, LLC

It seems the U.S. toilet paper retail supply may be indirectly related to current corn prices. Fear is driving many people to do things they normally wouldn’t do, like hoard face masks and years of toilet paper. In Minneapolis where I live, Costco’s canned goods and cleaning supplies were nearly empty and Target/Walmart’s pharmacy and health sections were extensively picked over.

While exercising caution regarding the coronavirus is important, panic and excessive fear isn’t helpful. Most people who get the virus will ultimately be fine, so it’s important to keep perspective. Experts expect only 5% of coronavirus cases will require ICU visits; however, there are only 100,000 ICU beds available and many are already filled. If just 1% of the U.S. (3 million people) get the virus and 5% of those people need hospitalization (150,000), there won’t be enough beds and medical staff to help the very sick.… Continue reading

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