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Asia Commodity Day Ahead: Hog Prices Rise to Five-Week High

September 29, 2011

Sept. 30 (Bloomberg) -- The following are the top stories on metals, agriculture and shipping.


Hogs Rise to Five-Week High on U.S. Pork Demand; Cattle Gain

Hog futures climbed to the highest in almost five weeks on speculation that demand will increase for U.S. pork. Cattle also advanced.


Copper Extends Slide on Concern World Recession Will Curb Demand

Copper dropped for a second day on mounting concern that the global economy is headed into a recession, slowing demand for industrial metals.

World Nickel Surplus May Widen in 2012, Industry Group Says

Global nickel production may exceed supply by a wider margin next year than in 2011, the International Nickel Study Group said in an e-mailed release.


Severstal May Invest $2 Billion a Year in Steel, Coal, Ore (1)

OAO Severstal, Russia’s second-biggest steelmaker, will invest about $1.5 billion to $2 billion a year to raise output and mine more raw materials, feeding its own plants while expanding sales at home and abroad.


Gold, Silver Prices Rise on Haven Demand Amid Economic Woes

Spot gold and silver prices rose for the second time in three days on demand for a haven amid concern that the European debt crisis will choke the worldwide economy.


Cotton Rebounds as U.S. Export Sales Surge; Orange Juice Rises

Cotton prices rose the most in three weeks as export sales from the U.S., the world’s biggest shipper, more than tripled. Orange juice also advanced.

Soybeans Rebound From 10-Month Low as Exports Jump; Corn Gains

Soybeans rebounded from a 10-month low and corn rose after a government report showed increasing Chinese demand for supplies from the U.S., the world’s biggest producer.

Wheat Rises as Drought May Hurt Winter Crops in U.S. Plains

Wheat futures posted the biggest gain in almost six weeks on speculation that prolonged drought in the U.S. Great Plains will delay winter planting and stress crops as they emerge from the soil.

Sugar Rises on U.S., Europe Economy; Cocoa Rises; Coffee Drops

Sugar futures jumped the most since July as European efforts to tackle the debt crisis and signs of stronger U.S. growth helped allay concerns that demand will stall. Cocoa rose while coffee fell.

EU Corn Exports Jump to Highest Since 2008 on Euro Slide, Price

European Union corn exports rose to the highest weekly level since November 2008 as the outlook for a bigger harvest and the euro’s drop against the dollar made grain from the 27- nation bloc more competitive.

Meat Supply’s ‘Precipitous’ Drop Spurs Record Price, Nelson Says

U.S. meat and poultry production may drop as much as 5 percent next year, sending beef and pork prices to a record amid climbing feed costs and shrinking herds, according to Rabobank International.


Commodity Ship Rates Fall as Demand for Brazilian Ore Weakens

The cost of hiring iron ore-carrying capesize ships fell a third day in London as demand declined for the vessels to ship the raw material to Asia from Brazil.


U.S. Economy: Comfort Drops to Second-Weakest on Record (1)

Consumer confidence slumped last week to the second-lowest level on record as Americans grew more concerned with their financial situation and the buying climate worsened.

Jobless Claims in U.S. Drop on Seasonal Adjustment Issues (2)

Claims for U.S. unemployment benefits fell more than forecast last week as an atypical calendar alignment made it more difficult for the government to adjust the data for seasonal changes.


Stocks Rise as Economic Data Offset Technology; Greek Bonds Rise

U.S. stocks rose, rebounding from an earlier loss, as lower-than-estimated claims for unemployment benefits and a vote by German lawmakers to expand a European bailout fund helped offset losses by technology and consumer companies. Greek bonds surged.

Dollar Gains as Stocks Pare Rise, Fitch Downgrades New Zealand

The dollar rose against most of its major counterparts as stocks pared gains and New Zealand’s credit rating was lowered by Fitch Ratings, damping demand for higher-yielding assets.

Crude Oil Rises on U.S. Economy, German Passage of Bailout Bill

Oil rose in New York as the U.S. government reported that the economy grew faster than previously estimated in the second quarter and German lawmakers approved an expanded European bailout fund.


FIFA Looks at Fund Run by Ex-Chelsea CEO, Ronaldo’s Agent (2)

Soccer’s ruling body is examining an investment fund set up by former Chelsea Chief Executive Officer Peter Kenyon to see if it violates the sport’s rules, according to a FIFA official who declined to be identified.

--Editors: Millie Munshi, Patrick McKiernan

To contact the editor responsible for this story: Steve Stroth at

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