Five interesting things that Hodges Capital research analysts discovered this week...
#1 CONSUMER CONFIDENCE: The Conference Board Consumer Confidence Index declined in August to 106.1 from a downwardly revised 114.0 in July. Higher grocery and gasoline prices were key issues, according to write-in responses.
#2 ROUNDS PLAYED: According to the National Golf Foundation, July rounds of golf were up 3.2% y/y. This is the fourth straight month of in-season gains in play nationwide.
#3 COCOA: Hedgeye recently noted that cocoa futures have hit prices not seen in over twelve years as the outlook for global supplies worsens. Ghana is the second largest cocoa producer, and the country’s crop is expected to fall to a 13-year low.
#4 HERD SIZE: According to a report from the United States Department of Agriculture, small-scale cow-calf operations, defined as operations with less than 100 beef cows, account for over 90% of all farms with beef cows and over 45% of all U.S. beef cows.
#5 EVICTIONS: According to data from the Eviction Lab, a Princeton University research group that tracts more than 30 U.S. cities, most cities have reported more eviction filings this year through June than pre-pandemic averages.
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