The recent run-up in the U.S. stock market is real and should continue at least through 2010, according to economist Dr. Donald Ratajczak. He was speaking to feed ingredient-purchasing managers at the 2009 Grain Forecast – Economic Outlook Conference. The annual seminar is sponsored by U.S. Poultry & Egg Association’s Poultry & Egg Institute.
“There are some concerns, but I believe the current bull market that began in March is solid and will last a couple of years,” Ratajczak said. “I see nothing to suggest this rally is running out of steam. However, some rest probably is appropriate. Are we out of the recession? Probably not, because the labor force still has not stabilized. The economy grew in the third quarter, but it didn’t create jobs. The growth came from government spending.”