Lead and Aluminum Rise, Feed Cattle Fall: Commodities at Close

The Standard & Poor’s GSCI gauge of 24 commodities rose 0.2 percent to 638.86 in New York. Lead and aluminum increased and feed cattle decreased.

The UBS Bloomberg CMCI index of 26 raw materials increased 0.4 percent to 1,569.474 at 4:59 p.m.

BASE METALS

Copper futures jumped the most in two weeks on signs that economies are stabilizing in China, the top consumer of industrial metals, and the U.S., the second-biggest.

Copper futures for December delivery climbed 1 percent to settle at $3.552 a pound on the Comex in New York, the biggest gain for a most-active contract since Oct. 17. Last month, the metal fell 6.4 percent, the most since May.

On the London Metal Exchange, copper for delivery in three months rose 0.9 percent to $7,826 a metric ton ($3.55 a pound). Aluminum, nickel, lead, zinc and tin also advanced.

Base metals markets: NI BMMKTS

SOFT COMMODITIES

Sugar futures fell for a second day on signs that global supplies will outpace demand. Coffee tumbled to a four-month low, and orange juice slid, while cotton and cocoa rose.

Raw sugar for March delivery slid 0.4 percent to settle at 19.38 cents a pound on ICE Futures U.S. in New York, adding to yesterday’s 0.5 percent drop.

Arabica-coffee futures for December delivery retreated 0.8 percent to $1.5345 a pound on ICE, after reaching $1.528, the lowest for a most-active contract since June 21. The price has dropped 32 percent this year.

Orange-juice futures for January delivery retreated 0.5 percent to $1.0595 a pound on ICE, the fifth straight decline.

Cotton futures for December delivery gained 0.2 percent to 70.21 cents a pound. Cocoa futures for December delivery advanced 1.3 percent to $2,420 a ton.

Soft markets: NI SOMKTS

GRAINS, OILSEEDS

Soybeans rose for a third day on speculation that planting delays in South America will boost demand for supplies from the U.S., the world’s biggest exporter. Corn declined.

Soybean futures for January delivery gained 0.7 percent to close at $15.60 a bushel on the Chicago Board of Trade. The oilseed fell 3.3 percent in October, after rains pared yield losses in the U.S. caused by the worst drought since 1956.

Corn futures for December delivery slid 0.6 percent to $7.51 a bushel on the CBOT. Prices have retreated 12 percent since touching a record $8.49 on Aug. 10.

Grain markets: NI GRMKTS

PRECIOUS METALS

Gold futures declined for the first time in three days as the dollar’s rebound reduced demand for the metal as an alternative investment.

Gold futures for December delivery fell 0.2 percent to settle at $1,715.50 an ounce on the Comex in New York. Earlier, the metal reached $1,727.50, the highest since Oct. 23. The price advanced 0.6 percent in the previous two days.

Silver futures for December delivery declined 0.2 percent to $32.248 an ounce on the Comex.

Platinum futures for January delivery fell 0.2 percent to $1,573.20 an ounce on the Nymex.

Palladium futures for December delivery advanced 0.4 percent to $612.45 an ounce. The price climbed for the third straight day, the longest rally in almost a month.

Precious metal markets: NI PCMKTS

NATURAL GAS

Natural gas futures rose for a fourth day in New York following a government report that U.S. stockpiles rose less than predicted while still reaching an all-time high.

Natural gas for December delivery advanced 0.7 cent to settle at $3.699 per million British thermal units on the Nymex. Gas is up 24 percent this year.

Gas markets: NI NUSMKT

CRUDE OIL

Oil rose to a one-week high after the Energy Department reported that crude supplies unexpectedly declined and as equities gained on increasing economic optimism.

Crude oil for December delivery rose 85 cents to $87.09 a barrel on the Nymex, the highest settlement since Oct. 22. Prices are down 12 percent this year.

Brent crude for December settlement dropped 53 cents, or 0.5 percent, to end the session at $108.17 a barrel on the London-based ICE Futures Europe exchange. It was the fourth straight decline for the contract.

Oil markets: NI CRMKTS

OIL PRODUCTS

Gasoline pared gains on speculation that flooding and power outages after Hurricane Sandy will reduce demand because people are unable to drive or find fuel.

Gasoline for November rose 0.33 cent to settle at $2.6336 a gallon on the Nymex. The fuel surged 23 percent in the third quarter, then sank 17 percent last month.

Heating oil for December delivery declined 2.91 cents, or 1 percent, to $3.0332 a gallon, the lowest settlement in six days. Prices sank 3.2 percent last month.

Oil product markets: NI OPMKT

LIVESTOCK

Hog futures fell from the highest price in more than a week on signs that U.S. meatpackers are slowing animal purchases amid concern that consumer meat demand is down after Hurricane Sandy. Cattle also dropped.

Hog futures for December settlement fell 0.5 percent to settle at 77.875 cents a pound on the Chicago Mercantile Exchange, after reaching 79.45 cents, the highest for the most- active contract since Oct. 22. The commodity is down 7.6 percent this year.

Cattle futures for December delivery dropped 0.5 percent to close at $1.25325 a pound in Chicago.

Feeder-cattle futures for January settlement declined 1.6 percent to $1.4635 a pound on the CME.

Livestock markets: NI LVMKTS

To contact the reporter on this story: Joshua Falk in New York at jfalk19@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net

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