As a producer predicted, Monday’s screen plunge of 61.8 cents was able to more than offset this week’s surge of colder weather and induce falling cash prices at all points Tuesday. High comfort levels with storage inventories contributed to the bearishness.
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Spring Gets Sprung With Falling Cash Prices
Maybe all it took was the beginning of spring to induce the first substantial market softness in more than a week. Lower industrial load over a weekend, a bit of moderation from cold weather in the Midwest and Northeast, and energy futures weakness the day before were the chief causes of across-the-board declines in spot prices Friday.
March 22, 2004
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