Natural gas futures continued to deteriorate early Monday after the weekend served up another round of mild forecasts and soaring production figures. 

NGI Morning Natural Gas Price & Markets Coverage

The January Nymex contract was off 20.6 cents to $2.375/MMBtu at around 8:40 a.m. ET. February was down 20.2 cents to $2.302.

While declines were weighted toward the current winter months, contracts across the 2024 strip and into early 2025 were all down double digits. 

The primary forces driving natural gas prices lower winter-to-date — namely production outperformance and exceptionally mild weather — showed no signs of letting up heading into Monday’s session.

Weather models, already failing to impress in terms of December heating demand expectations, trended warmer over the weekend, according to...