Commodity Blog

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Copper, Cattle & Hogs Gain on Weaker Dollar; Sugar Declines

June 15, 2010 at 23:18 by Vladimir Vyun

Copper gained today for the sixth successive session as the dollar weakened, boosting demand for commodities. The U.S. dollar dropped as much as 0.7 percent versus the basket of six major currencies. September futures for copper delivery gained $0.0115 (0.4 percent) to $3.024 per pound on COMEX.

Cattle and hogs advanced today on signs that the demand will rise. Rising equities and falling dollar also added helped the prices. August futures for cattle delivery advanced $0.00475 (0.5 percent) to $0.886 per pound on CME.

Sugar declined today on speculation that the prices will go down. Concerns arose among trader that the sugar rally was overdone and the prices won’t be held on the current level. October delivery for raw sugar slid $0.0004 (0.3 percent) to $0.1595 per pound on ICE.

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

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