The Swiss Re US Wind Cat Bond Performance Index Price Return Index has sunk to 70 on Hurricane Irma’s projected path through Florida.
The Swiss Re Global Cat Bond Performance Index Price Return is at 80.
(Bloomberg) — Hurricane Irma probably will ravage Florida’s orange groves and sugar-cane crops once the powerful storm strikes the state this weekend. But the damage may not end there for the agriculture industry in the Southeast. Heavy rain and wind is projected to keep moving north into Georgia and reach parts of Tennessee, Alabama and the Carolinas, putting some of the top U.S. producers of chicken, cotton and hogs at risk.
“You’ve got your citrus and vegetable issue in Florida right away, and then as it moves on up into north Florida and Georgia, that’s right in the heart of peanut and cotton country, and soybean and corn country in southwest Georgia, primarily,” Agriculture Secretary Sonny Perdue, a Georgia native and former state governor, told reporters in Washington Friday.
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Frozen orange juice concentrate rose on Irma news of a Florida strike.
Here is the volatility surface for FOJC futures.
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