Instigator

Prices Rally on Fresh Forecasts, Except in California

Traders cited new forecasts of colder weather, both near-termand intermediate-term, as the chief instigator of yet anotherreversal in cash market direction Thursday. Nearly all pointsrecorded strong gains between about a quarter and 60 cents.California was the conspicuous exception with further largedeclines, but it remained the most expensive market by far.

January 26, 2001