Holy Commodities Batman

We can’t not look at how insanely high some commodities have moved. 

Frozen Orange Juice Futures

Orange Juice Monthly Chart – Click to enlarge.

New all-time highs and up nearly +250% since February 2020. 

The only thing more freshly squeezed is my wallet. 🍊

Cocoa Futures

Cocoa Monthly Chart – Click to enlarge.

Not only are cocoa futures up over 44% since the beginning of the year, it’s trading at new all-time highs. 

Valentine’s Day 2024 just got a lot more expensive.🍫

Live Cattle Futures

Live Cattle Juice Monthly Chart – Click to enlarge.

If new all-time highs and a +33.91% gain since January weren’t crazy enough, then about an insane +117.45% gain since the April 2020 lows?

Ribeyes keep getting smaller and more expensive at the same time. 🐮

Gold Futures

Gold Monthly Chart – Click to enlarge.

Even though gold isn’t showing off the same YTD gains as the three above commodities, July 2023’s close was the highest monthly close ever. 

And even though gold has moved a little lower, it’s still parked pretty damn close to those highs. 🥇

Cocoa and OJ Futures Keep On Rolling

It was a slow day out there, so we’re back with everyone’s favorite topic: commodity futures. 🙃

At the end of August, we discussed cocoa futures following in orange juice futures’ footsteps and breaking out to new all-time highs. Since then, weather conditions and crop outlooks have not improved, causing prices to rise even further.

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Sugar Hits Sweet Spot As Gold Shines

It was a slow day out there, but several commodities caught traders’ eyes. Let’s see which ones. 👀

First up is sugar futures, which have experienced a nearly 30% decline since the beginning of November. While its major decline is one reason to be on people’s radars, technical traders say prices have reached the 20-20.50 area that served as an inflection point over the last two years.

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Precious Metals Slowly Melt Lower

With the stock market catching its breath before a new earnings season begins, we’ve been trying to highlight other market trends. And right now, one of those is in the precious metals section of the commodities space. 👀

Gold, silver, platinum, and palladium are all considered precious metals for those unfamiliar. These metals are rare, naturally occurring metallic chemical elements of high economic value…hence the name. *cue the Gollum “my precious” meme.*

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