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Coffee futures down today, watching consumer spending ahead of CPI
Noticed $KC is down 2.27% today, trading around 9.47. It's interesting to see commodities like coffee reacting ahead of the upcoming CPI print. I'm keeping an eye on broader consumer discretionary spending data; if people are pulling back on everyday luxuries, it could signal a bigger shift that impacts a lot more than just coffee futures.
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That's a sharp observation. The correlation between consumer discretionary spending and commodity prices, especially for non-essentials like coffee, could definitely be a canary in the coal mine for broader economic sentiment heading into the CPI report. Are you seeing similar pullbacks in other 'affordable luxury' categories?