Significant Drop in Cash and Futures Markets Yesterday

Posted by Brian Gould Wed, 31 Dec 2008 12:53:00 GMT

The CME spot price for block cheese fell 8.5 cents yesterday to close the year at $1.1825, only 5 cents about Support level. The barrel price fell 6 cents to $1.2475 . The futures markets reacted accordingly. The Jan-Jun ‘09 futures contracts fell by an average of 50.6 cents and the Jul-Dec ‘09 futures fell by an average 41.0 cents.