Yahoo Finance’s Heidi Chung joins Zack Guzman to discuss why orange juice futures are jumping on Yahoo Finance.

Video Transcript

ZACK GUZMAN: We're also seeing Americans stockpile orange juice, and the way that they're seeking vitamin C. Prices for orange juice have moved quite high in a very short period of time. We are bring in Heidi Chung for more on that. Heidi?

HEIDI CHUNG: Hey, Zack. Yeah, so it's not just orange juice futures. Commodities have gone absolutely wild. And specifically, I've been taking a look at ads that are tied to sort of a panic buying that we have been seeing over the past several weeks.

Specifically, though, let's start with orange juice futures, hitting their highest price since April of 2019. So nearly one year there. And according to data firm Nielsen, orange juice sales in the US spiked 40% in the latest week, ended March 14, compared to the same week last year.

Some other commodities that I do want to mention in here, cattle futures jumping a whopping 18.35% just over the past five trading sessions. That was the biggest five-day gain since October 2016, so over three years. And we have lean hog futures soaring 21.77% in the past seven trading sessions. That's the biggest seven-day gain since July of 1986, so over 33 years.

Finally, I want to end on coffee futures, jumping 23% over the past six trading days. That's the biggest jump since May 1997, so 22 years there, Zack. Commodities going absolutely crazy.

And as you can imagine, I've been watching the trend here. But this panic buying is sending these prices significantly higher.

ZACK GUZMAN: All right. Heidi Chung bringing us the latest there.