Bernstein Writes of Beer Industry’s 2017 “Hangover”

Dear Client:After eking out volume gains the last three years, YTD beer trends are looking dismal. Bernstein tallied the state of the union."US domestic shipments for the three months to the end of April were -5.3% - their worst level in over 10 years," worse than during the Great Recession of 2008/2009. (Of course, the missing Leap Day, and a "a period of post-Holiday destocking" contributed.)And as we've recently covered, import trends are dismal too (last week we reported imports