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July 1, 2015

United States

California—Todd Rushing, the Winner of the First Shrimp News Future Price Contest

 

I received 36 entries for the first Shrimp News Future Price Contest, which is based on the Urner Barry White Shrimp Index Price, an average of wholesale, headless, shell-on, frozen shrimp prices per pound (0.453 kilogram) in New York, USA.  On April 30, 2015, at the beginning of the contest, the Urner Barry White Shrimp index price was $4.1595 a pound, and on June 30, 2015, at the end of the contest it was $4.0652, a drop of about 9 cents over the two-month period.

 

Of the 36 entries, 15 were from the United States, and the rest were from Argentina, Ecuador, India, Indonesia, Japan, Korea, Honduras, Malaysia, Mexico and Peru.

 

The average prediction from Shrimp News readers was $4.4988 a pound, indicating that they thought the index price would rise by about 34 cents a pound in May and June 2015.  The lowest prediction was $3.4818; the highest, $5.9431.

 

And the winner Is:   On June 30, 2015, the Urner Barry White Shrimp Index price was $4.0652, and Todd Rushing from ShrimpTrader.com is the winner with the guess of $4.0487.  Congratulations Todd (email trushing@shrimptrader.com), you were only off by about a penny and a half.

 

Win a $100: I’ve decided to run this contest quarterly, four times a year (Jan/Mar, April/June, July/September and October/December).  To encourage more participation in the contest, I’ll send the winner of the July/Sept 2015 contest a check for $100.  I’ll announce the rules for the July/Sept 2015 contest by Monday, July 6, 2015.

 

Urner Barry updates its White Shrimp Index every Tuesday and Thursday.  check the current price of the index.  check the most recent wholesale, headless, shell-on, frozen shrimp prices per pound (0.453 kilogram) in the New York, USA.

 

Knowing what shrimp farmers around the world think about future shrimp prices could become a valuable tool for farmers, processors, importers and distributors.  That’s why I started the Future Price Contest!  Eventually, I think the average of your guesses will be very close to the actual price at the end of each contest, especially if more of you enter the contest.

 

Source: Bob Rosenberry, Shrimp News International, July 1, 2015.

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