Commodity Blog

Commodity news, technical and fundamental analysis, market data on precious metals, energies, industrial metals, and soft commodities

Archives

Cocoa Rises with Higher Demand, Hogs Gain with Lower Supply

July 17, 2010 at 2:49 by Vladimir Vyun

Cocoa futures gained today after the report about increased demand in North America. The cocoa grind increased by 12 percent in the second quarter to 117,657 metric tons compared to the previous year. Analysts say that grinding numbers show strong demand and support prices. September delivery for cocoa rose $21 (0.7 percent) to $3,165 per ton on ICE.

Hogs futures went up today as hot weather in the U.S. causes decrease of animals’ weight, causing concern about declining pork supply. The animals tend to eat less with such jot weather, decreasing their weight. Hogs purchased yesterday by pork processors weighed 2 kilograms (4.44 pounds) compared to the same day in the previous month. October futures for hog settlement gained $0.00375 (0.5 percent) to $0.757 per pound on the CME.

If you have any questions and comments on the commodities today, use the form below to reply.

Leave a Reply

required
required  

Navigation

Menu