Trading places
Ashley Honey of Nui thinks that by embracing commodity trading technology, meat processors can cut out the middleman and improve their businesses.
It’s a common scene in ‘80s Hollywood films, from “Ferris Bueller’s Day Of” to “Trading Places” — the frantic, high-octane commodity trading pits. Whether in Chicago, Philadelphia or New York, the image of energetic traders yelling about prices, pushing through mobs of competitors, and sweating through their dress shirts was an iconic visual of American finance.
Yet now, in 2021, the trading pits are quiet. Thanks to revolutions in computing, servers and screens have replaced the famed “open outcry” system, and the bulk of futures trading for hogs, cattle and corn are handled not with hand signals and booming voices, but rather, with tablets. Ashley Honey thinks a similar transformation should take place for the meat trade.
Deeply knowledgeable in finance and economics, Honey has nearly two decades of experience in commodities, foreign exchange trading and treasury risk management, and is currently the senior vice president of the Americas region for Nui, a New Zealand-based trading platform that is working to change how agriculture processors distribute their products to clients.
Read the full article from Meatingplace.com here (PDF).
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