Monthly Economic Letter
September 2022

RECENT PRICE MOVEMENT Movement in benchmark prices was mixed over the past month. The December NY/ICE futures contract climbed higher in the second half of August, but it lost 12%…

Monthly Economic Letter
August 2022

RECENT PRICE MOVEMENT Most benchmark prices rose over the past month. After posting a series of solid increases recently, the most actively traded NY/ICE December futures contract rose the limit…

Monthly Economic Letter
July 2022

RECENT PRICE MOVEMENT Benchmark prices collapsed over the past month. Before expiring, the July NY/ICE futures contract lost 30% of its value in just a couple days, falling from 144…

Monthly Economic Letter
June 2022

RECENT PRICE MOVEMENT Movement in benchmark prices was mixed over the past month. The July NY/ICE futures fell from 142 cents/lb in May and touched levels as low as 136…

Monthly Economic Letter
May 2022

RECENT PRICE MOVEMENT Most benchmark prices increased over the past month.  Chinese prices decreased. The July NY/ICE futures increased from 130 cents/lb to 145 cents/lb. The December NY/ICE futures contract,…

Monthly Economic Letter
April 2022

RECENT PRICE MOVEMENT Most benchmark prices increased over the past month. Open interest is shifting out of the May NY/ICE futures contract and into July. Prices for both futures surged…

Monthly Economic Letter
March 2022

RECENT PRICE MOVEMENT Most benchmark prices decreased over the past month. The most actively traded May 2021 NY/ICE futures contract decreased from 124 to 118 cents/lb over the past month.…

Monthly Economic Letter
February 2022

RECENT PRICE MOVEMENT All benchmark prices increased over the past month. The Nearby March NY/ICE futures contract increased from 115 to 127 cents/lb. Open interest has been migrating out of…

Monthly Economic Letter
January 2022

RECENT PRICE MOVEMENT All benchmark prices increased over the past month. The March NY/ICE futures fell as low as 104 cents/lb in early December. After trading sideways in the first…

Monthly Economic Letter
October 2021

RECENT PRICE MOVEMENT Most benchmark prices surged between late September and the present. After touching values below 90 cents/lb on September 20, the December NY/ICE futures contract surged higher. Prices…