Spoiled

Warm weather forecasts and the large separation between cash andfutures prices spoiled the nice rally futures traders had goinglate last week. Prices opened down a nickel, made slight gains andthen slid the rest of the day. After opening at $2.600, Decemberposted a mid-day high at $2.635 and then collapsed to a low of$2.520. It settled down 12.5 cents at $2.524. January lost 10.7cents to settle at $2.681, and February slipped 8.5 cents to endthe day at $2.640/MMBtu.