Stadium beer falls to $30.27 per cup ·
Beer (BER) prices fell nearly $5 per keg Thursday as markets followed uncertain trends after Pabst Blue Ribbon’s (PBR) decision on Monday to increase beer to a price only Shaq and an oil tycoon could afford.
“We’ve definitely seen a paring of short dollar positions, and beer prices that make me want to cut someone,” said Art Livingston, chief currency strategist at Morgan Stanley in New York.
“There’s been chatter in the market that perhaps keg prices may gain long term and prove to be more vigilant in the face of giant pretzel prices,” Livingston added.
The giant pretzel has rebounded from a two-month low against the hot dog before a report tomorrow that may show U.S. retail sales surged last month. The decrease in keg prices may help the pretzel by damping speculation that Heinz is done increasing mustard shipping costs.
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