Commodity Blog

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Decline of Hogs & Cotton Prices

April 19, 2010 at 19:50 by Vladimir Vyun

Hog futures dropped today as investors shun riskier assets after the Goldman Sachs Group Inc. was charged for the fraud. U.S. regulators sued the Goldman Sachs, while German and U.K. regulators are investigating if they can take action against the Goldman too. This damaged the investor’s risk sentiment, causing them to shun risky assets, including commodities. June settlement for hog futures dropped $0.0035 (0.4 percent) to $0.858 per pound by 9:47 on the Chicago Mercantile Exchange.

Cotton slid as the stronger dollar cut the demand for some commodities as alternative assets. The greenback rose to the weekly high level versus the basket of six major currencies. The analysts say that the fiber may go up by 5–6 cents if farmers encounter any problem in getting the crop in the ground, in the same time prices may fall in case traders will see signals that China is not coming to the market. July delivery for cotton slid $0.0055 (0.7 percent) to $0.8104 per pound as of 10:17 on ICE.

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