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Strategies & Market Trends : Commodities - The Coming Bull Market -- Ignore unavailable to you. Want to Upgrade?

To: fedhead who wrote (1039)	2/13/2002 5:48:05 PM
From: Stephen O	Respond to of 1643

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