Consensus Commodity Price Forecasts
From Ticker Sense Back in December we posted commodity price forecasts for 2007 based on average analyst estimates. Below we revisit those expectations, provide the actual year to date change, and provide the new expected 2007 price change based on…
From Ticker Sense
Back in December we posted commodity price forecasts for 2007 based on average analyst estimates. Below we revisit those expectations, provide the actual year to date change, and provide the new expected 2007 price change based on current commodity prices. Uranium, expected by analysts to fall 6.41% in 2007, is currently up nearly 57% year to date. Nickel was expected to fall 38% but is actually up 45%.
While we still have nearly three quarters to go, so far this year, commodity analysts have proven to not be very good prognosticators. They have also been slow to change their estimates, as due to the substantial commodity rallies, current price targets remain well below the actual prices.
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
