U.S. Commodity Movers: Crude Oil, Cattle, Wheat, Copper, Cotton
2002-02-13 09:49 (New York)
New York, Feb. 13 (Bloomberg) -- The following U.S. markets
may be active today.
Crude Oil (CLA <Cmdty> CT): U.S. inventories of crude oil
last week rose 4.68 million barrels, double analysts'
expectations, as imports surged, an American Petroleum Institute
report after trading yesterday showed. The gain to 320.7 million
barrels left inventories at their highest level since June 1.
Gasoline inventories rose a greater-than-expected 1.66 million
barrels, and inventories of distillate fuels, which include
heating oil and diesel, rose 604,000 barrels, the report showed.
Analysts were expecting distillates to decline.
Cattle (LCA <Cmdty> CT): More than 100 cattle farmers
marched in central Tokyo to call on the government to take steps
to promote beef consumption, Kyodo news service reported. The
farmers from Kumamoto Prefecture in southern Japan have been hurt
by the fall in demand for beef following the outbreak of mad-cow
disease last September, Kyodo said. Consumer confidence has been
further eroded by a beef-mislabeling scandal involving Snow Brand
Foods Co., the report said.
Wheat (W A <Cmdty> CT): Increased rainfall over south
central Kansas, Oklahoma and Texas has improved prospects for
winter wheat, according to meteorologists. More rain is needed in
western states after dry weather damaged the crop last month,
they said.
Copper (HGA <Cmdty> CT): U.S. retail sales of building
materials rose 2.9 percent in January after a 1.3 percent drop in
December, a Commerce Department report showed. The report added
to evidence that an end is in sight to the recession that has
curbed demand for copper products, including pipes, wire and
plumbing fixtures.
Cotton (CTA <Cmdty> CT): U.S. retail sales of clothing in
January rose 2.5 percent compared with a 2.7 percent gain in
December, the Commerce Department said. U.S. cotton consumption
has dropped 18 percent in the past year, partly because of
slumping retail demand and textile mill shutdowns.
--Claudia Carpenter in the New York newsroom (212) 318-2346 or at
ccarpenter2@bloomberg.net with reporting by Bloomberg reporters
worldwide. Editor: Banker |
