Tuesday, December 21, 2010

Mareket Recap for 12.21.2010

Weekly CRB chart (Source Barchart.com)
The rally in the commodity sector continues: The CRB rose to the highest level in 27 months.



Monthly Cotton Chart (Source: Barchart)
Cotton trading was locked "limit up" for the 2nd day as cotton prices moved sharply higher
on continued worries about the supply/demand picture for cotton. Chinese demand remains strong while production from Pakistan, the world's third largest producer remains constrained after the flooding earlier this year.



Monthly NY Copper chart (Source: Barchart.com)

Copper prices set records on exchanges in London and New York on renewed Chinese buying and word that the operator of the worlds third largest copper mine had declared "force majeure" on copper shipment obligations.  With demand outpacing supplies, analysts are calling for further price increases in 2011. Commodity fund buying and talk of new copper backed ETF products also underpinned prices in the red metal.

ICSC-Goldman Store Sales Released on 12/21/2010 7:45:00 AM For wk12/18, 2010
                                            Prior               Actual
Store Sales - W/W change     0.8 %              1.7 %
Store Sales - Y/Y                   3.1 %              4.2 %

Redbook Released on 12/21/2010 8:55:00 AM For wk12/18, 2010
                                       Prior        Actual
Store Sales Y/Y change       2.5 %    3.8 %

Retail Sales Data (Click for website.)
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The contents of any third-party letters/reports above do not necessarily reflect the opinions or viewpoint of G. Scott Hinton. They are provided for informational/educational purposes only.All sites refered to or displayed on this blog are available to anyone free of charge. The content of any message or post by G. Scott Hinton anywhere on this site is not to be construed as constituting market or investment advice. Such is intended for educational purposes only. Individuals should always consult with their own advisors for specific investment advice. This information is not to be construed as an offer to sell or a solicitation or an offer to buy commodities herein named. The risk of trading futures and options can be substantial.