Archive for July 13th, 2010
Rising Prices for Aluminum, Copper, Cattle & Cotton
Cattle futures gained on signs of increasing demand for U.S. beef. Wholesale beef, shipped by meatpackers in the week that ended yesterday, climbed as much as 44 percent to 43 million pounds, compared to 29 million pounds in the week earlier. October futures for cattle delivery rose $0.00875 (1 percent) to $0.92275 per pound on CME.
Cotton futures rebounded as the weaker dollar boosted demand for some commodities as an inflation hedge. The U.S. currency dropped to the lowest level in two months versus the basket of six currencies. December delivery for cotton gained $0.0086 (1.2 percent) to $0.7465 per pound on ICE Futures U.S.
Copper and aluminum prices rose after aluminum producer Alcoa Inc. reported that its earnings were higher than expected. Alcoa Inc. forecast that global aluminum demand would grow 12 percent in 2010. September futures for copper delivery added $0.0085 (0.3 percent) to $3.0175 per pound on COMEX. Aluminum rose 1.2 percent to $1,995 per metric ton on LME.
Commodity Prices — July 13th 2010
Latest commodity prices (ICE, NYMEX, CME) as of 17:15 GMT:
Oil (Brent) — $76.40
Gold — $1,212.53
Silver — $18.24
Palladium — $463.00
Platinum — $1,526.75
Copper — $6,665.00
Aluminum — $1.990.00
Nickel — $19,490.00
Zinc — $1,851.00
Cocoa — $3,026.00
Sugar — $17.12
Corn — $369.50
Soybean — $1034.25