Bellies Sizzle, Oil Hits New High
An unseasonal surge in demand is driving pork bellies to two-year highs. The December contract, which registered on the Momentum-5 List, moved higher for a sixth consecutive day and traded up its daily limit after two hours of trading this morning.
Crude oil gapped open above the $25 mark, surpassing a 30-month high. The International Energy Agency (IEA) issued a report last week showing tighter supplies and higher demand.
Also from the Momentum-5 List
coffee is trading at a contract high.
Here are the highlights around noon Eastern time:
Stock Index and Bond Futures•December T-bonds [USZ9>USZ9]: -2/32 to 114 28/32
• December S&Ps [SPZ9>SPZ9]: +1.90 to 1403.50
• December Dow futures [DJZ9>DJZ9]: -17 to 10,815
• December NASDAQ 100 futures [NDZ9>NDZ9]: +2.5 to 2911.00
Currencies
•December dollar index futures [DXZ9>DXZ9]: -.05 to 100.60
•December Japanese yen futures [JYZ9>JYZ9]: +.0022 to .9572
•December British pounds [BPZ9>BPZ9]: +.0074 to 1.6236
Energies•December crude [CLZ9>CLZ9]: +.31 to 25.22
•December unleaded gas [HUZ9>HUZ9]: +.0050 to .7075
•December heating oil [HOZ9>HOZ9]: +.0088 to .6710 (Momentum-5 List)
Metals•December silver [SIZ9>SIZ9]: +2.5 to 508.0
Grains•December wheat [WZ9>WZ9]: +4 1/2 to 248 3/4
•January soybeans [SF0>SF0]: +4 3/4 to 467 1/2
Meats•February pork bellies [PBG0>PBG0]: +3.000 to 77.275
•December lean hogs [LHZ9>LHZ9]: +1.400 to 51.725
Softs and Fibers•December cocoa [CCZ9>CCZ9]: -12 to 783 (Implosion-5 List)
•December coffee [KCZ9>KCZ9]: +5.50 to 128.00 (Momentum-5 List)
•January orange juice [OJF0>OJF0]: +1.20 to 97.75