Gains of up to about 40 cents at some eastern points Wednesday ran contrary to the general market trend of continued declines. Fresh bursts of colder weather due Thursday in the Northeast, Midwest and to a lesser extent the South, while not expected to be particularly severe, were enough to interrupt the solidity of lower quotes that had marked the launch of the March aftermarket Tuesday.
Bursts
Articles from Bursts
Bulls’ Bubble Bursts as Many Points Fall a Dime
Wednesday’s suspicions that a weeklong run-up in cash prices,which hesitated only on Monday before starting to climb again, wascoming to an end proved well founded Thursday. A sharply droppingscreen, the continued lack of any significant storm threat toproduction and mild weather in the major market areas of theMidwest and Northeast combined to pull down eastern quotes byamounts on either side of a dime. Declines tended to be smaller inthe West, ranging from flat at a few Rockies points to as much as 8cents in the Northern California market.
August 27, 1999
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