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Recap Of The Week For December 16, 2016

Recap of the week for December 16, 2016

December 16, 2016

Highlights:

  • Gold makes another new low and silver finally capitulates to the downside
  • Platinum takes a look under $900 and recovers to finish higher on the week
  • Palladium moves below $700
  • Copper correct 3.77% lower on the week on rising LME stocks
  • Iron ore rally continues up another 4%
  • The Baltic Index continues to fall down 13.90% on the week
  • Lumber falls to the bottom end of the trading range
  • NYMEX crude trades in a wide range and finishes up on the week- Brent posts a bigger gain
  • Products outperform crude oil with crack spreads posting gains
  • Natural gas falls by over 9% despite a big withdrawal from inventories
  • Ethanol down 3% in March
  • Grains move marginally lower with wheat down 1.68%
  • Sugar continues to fall down over 5% on the week
  • Coffee stops falling and posts a 2.22% gain last week
  • Cocoa rebounds 3.13%
  • Cotton holds 70 cents and posts a small gain
  • FCOJ down 8.43% for the week
  • Meats continue higher with live cattle and hogs up 4% and 5% respectively
  • The Fed hikes interest rates by 25 basis points and adds another hike for 2018 raising the number of projected rate increases to 3
  • The dollar continues to move higher trading at the highest level since 2003
  • Bonds make another new low as long-term interest rates move higher
  • Stocks hold gains despite the rate hike
  • Happy holidays!

Price Changes for the week:

 

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