California Snowpack and Bayer Activist Investments

California Snowpack and Bayer Activist Investments

Bob Larson
Bob Larson
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.

**A year ago, California’s first snowpack survey revealed snow measuring 160% of average, followed by the driest January, February and March in over 100 years.

This year the snowpack measured 174% of average, with ensuing storms dumping another 10 feet of snow in parts of the Sierra Nevadas.

A state climatologist says the string of storms signals California may be moving from a dry La Niña pattern to a wet El Niño.

**Activist investors recently purchased significant stakes in Bayer, hoping to split out the agriculture businesses from the consumer health and pharmaceutical business.

According to Shane Thomas of Upstream Ag Insights, at the beginning of 2018, before the close of the $63 billion deal to purchase Monsanto, Bayer had a market capitalization of over $100 billion USD.

Bayer shed 30% of its value within weeks of the close due to the glyphosate lawsuits and is now worth LESS in totality than what they paid for Monsanto.

**Egg prices at the grocery store were elevated throughout 2022 due to outbreaks of highly pathogenic avian influenza.

USDA economists tell, wholesale egg prices are expected to decline as the industry rebuilds its hen inventory.

Prices, which were 210% higher in the week leading up to Christmas than during the same period in 2021, fell in the final week of 2022.

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