Energy futures prices stumbled into another steep decline again Monday with crude oil falling close to $11 a barrel.
Livestock and meat futures rallied strongly Friday on the mistaken notion that the market needed a little upward adjustment before the Agriculture Department issued its cattle-on-feed report.
Energy futures prices took a sharp turn downward Monday, reflecting what analysts say is a belief that key OPEC figures lack a realistic view of the economics affecting the oil market.
The oil futures market strengthened Monday on what analysts said was a report that the Soviet Union is taking steps to peg the price of crude at a higher, fixed level.
Wheat, corn and soybean futures prices retreated Thursday on the Chicago Board of Trade.
Cattle futures prices rallied Wednesday on the mistaken belief that the national herd has shrunk by about 5% in the last year.
Energy futures prices advanced Monday on further indication that OPEC is doing a good job holding down production and that some tightness in heating oil supplies may be developing.
Oil futures prices advanced beyond the $19 barrier for the first time since early January, but then backed off to close lower Wednesday on the New York Mercantile Exchange.
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Sugar futures were sharply lower Wednesday on the Coffee, Sugar and Cocoa Exchange in New York, retracing a portion of a sharp advance over the past two weeks.
Hurricane Kate swept into the Gulf of Mexico, threatening oil producing and refining facilities and prompted a sharp increase in crude oil futures prices on the New York Mercantile Exchange.
Oil futures prices went through convulsive swings Tuesday on crude production reports coming in from overseas and yanked interest rate futures along a similarly chaotic path.
Energy futures prices surged Wednesday with crude oil settling above $15 a barrel for the first time in more than two months.
Cattle futures prices declined sharply Wednesday on the Chicago Mercantile Exchange, and analysts put part of the blame on a report of pesticides in food, including beef.
Pork futures prices surged sharply higher Wednesday with many contracts gaining the limit allowed for daily trading on the Chicago Mercantile Exchange.
Livestock futures prices advanced on the Chicago Mercantile Exchange, reflecting what analysts said were improvements in the cash markets.
Wheat futures prices responded sharply to hopes that export business may be picking up, gaining as much as 8 cents a bushel Wednesday on the Chicago Board of Trade.
Precious-metals futures declined Monday, resisting the normally buoyant effect of the declining dollar.
Livestock and meat futures prices advanced strongly Thursday, with pork bellies up the limit allowed for daily trading on the Chicago Mercantile Exchange.
Soybean futures prices led a modest rally in grain prices Wednesday on the Chicago Board of Trade.