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Poor Trading Session for Agricultural Markets

November 5, 2013 at 23:43 by Vladimir Vyun

Coffee futures fell on signs of ample supply from South America. Wheat prices were down too on concerns that global supply will exceed demand. Futures for delivery of Arabica coffee in December fell $0.0025 (0.24 percent) to $1.0345 per pound as of 23:35 GMT on ICE today. Cotton ticked down $0.0001 (0.01 percent) to $0.7594 per pound.

Cattle joined other agricultural commodities in decline even though it had rallied previously as demand for US meat was rising, while production was slowing. US meatpackers processed 115,000 animals yesterday, 5.7 percent less than a week ago. December cattle declined $0.0005 (0.04 percent) to $1.3205 per pound on CME today. Yesterday, beef prices rose to $2.0556 per pound, while over the year prices advanced 5.9 percent.

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