Commodity Blog

Archive for July 22nd, 2009

Beef demand falls, hogs slump today. Cattle futures dropped the most in seven weeks resulting in concern that beef demand is wane as the recession continues while hogs fell to the lowest since February. October futures for cattle dropped $0.01025 (1.1 percent) to $0.901/pound by 10:42 on CME.

Supply concerns rise causing sugar gain today. Demand in the world will surpass production resulting in concern that the worldwide supply deficit will increase. October futures for raw-sugar gain $0.0007 (0.4 percent) to $0.1787/pound as of 12:04 on ICE Futures  U. S. in New York.

The falling dollar increased the attractiveness of precious metals as an alternative investment causing gold to go up today. Federal Reserve Chairman Ben S. Bernanke reimplemented a plan to keep benchmark U.S. lending rates at historic lows for a continuous period. August futures for gold increased $5.50 (0.6 percent) to $952.40/ounce at 12:39 on the New York Mercantile Exchange’s Comex division.

Latest commodity prices (ICE, NYMEX, CME) as of 17:01 GMT:

Oil (Brent) — $66.91
Gold — $953.25
Silver — $13.71
Platinum — $1,166.47
Palladium — $252.50
Copper — $5,541.00
Aluminium — $78.500
Nickel — $16,281.00
Zinc — $1695.00
Cocoa — $2,763.00
Sugar — $17.92
Corn — $307.25
Soybean — $34.61