I don’t have a lot of time, so let me quote Diether Haenicke, posting from the comments in my last post:
PRICES WILL INCREASE TOMORROW (FRIDAY, MARCH 9).
Cancel my earlier prediction that prices were going to continue falling through Monday. The Chicago spot market closed today up 12.16¢ (3.93%) to $3.214. That makes $3.87868 the new spike line, which is 3.568¢ above the Michigan average of $3.843.
Normally, I’d say prices are going to $4.099, but that $4 barrier is one to be avoided and competition will bring it quickly back down to $3.999. I don’t know if we should expect $3.999 or $4.099. Either way, prices will most certainly increase tomorrow beginning at 10 a.m. ET in significant portions of Michigan’s lower peninsula, Indiana, and Ohio.
I think he hit it on the head as that was exactly what I was thinking. Except for one possibility. It may hold off until after the weekend. Hey, stranger things have happened.