Natural Gas Rises, and North Carolina GO Yields Increase
While the ultimate impact from Hurricane Florence on lives, business and infrastructure will remain unknown until the skies clear, many investors already appear to be bracing for the worst.
The U.S. National Oceanic and Atmospheric Administration (NOAA) noted Wednesday that Air Force hurricane hunter aircraft had found little change in the force of Florence while moving toward the Southeast coast, while warning of “life-threatening storm surge and rainfall” across portions of the Carolinas.
NOAA advised that persons located within affected areas should “take all necessary actions to protect life and property from rising water and the potential for other dangerous conditions.”
In response to any potential catastrophic damage from the hurricane, the Virginia National Guard said it plans to enlist up to 1,500 soldiers, airmen and members of the Virginia Defense Force for assistance. It added that Virginia governor Ralph Northam has also authorized up to 6,000 personnel for response operations.
In South Carolina, the state’s Emergency Management Division has also been actively monitoring the storm, and North Carolina governor Roy Cooper said that everyone in his state “needs to take this vicious, life-threatening storm seriously.”
Governor Cooper on Tuesday had ordered a state evacuation for barrier islands along the entire coast, from the Virginia line to the South Carolina line, with local evacuation orders in place for many additional areas.
Lean Hog Futures
Companies with operations close to North Carolina’s coast, including Perdue Farms, Coca Cola (KO) and Smithfield Foods (SFD) are most likely eyeing the unfolding storm very carefully.
Despite uncertainties over how much damage may be wrought by the storm, Smithfield said it is “fully prepared for the potential impact,” specifically in the states of North Carolina and Virginia.