Tended

In what was almost a direct reversal of Friday’s market, prices tended to fall Monday in most of the East while a majority of western points engaged in rallies. The return of industrial load from a weekend hiatus and hotter weather from the south-central states through the Southwest contributed to gains, while the softness could be attributed to the previous Friday’s screen decline and generally benign temperatures outside the southern U.S.

Cash price movement was mixed for the second day in a row Thursday, but this time traders tended to favor the upside more. What may be the last hurrah of the 2005-06 winter appeared to have settled in for an extended stay in northern market areas, while much of the West will remain stormy and cold through at least the weekend.

The Northeast, with its relatively moderate weather for late November, tended to be the weakest market area in Monday’s post-holiday spot trading. Otherwise, numbers were mixed in the Gulf Coast and seeing major rallies solidly across the Midcontinent/Midwest and West.

The market was mostly firmer again Tuesday, but the amounts of gain tended to vary widely. Supply and transportation constraints in the Rockies, along with the continuing impact of massive Gulf Coast shut-ins and some instances of heating load in the Upper Plains and West combined with new cooling load in the Midcontinent, were cited as factors in the new upticks. One source suggested that Monday’s screen gain of nearly a dime provided a little extra support for cash Tuesday.

The amounts of decline tended to get smaller Thursday, but it was clear that the price direction remained definitively downward for the foreseeable future. Not counting flat to barely lower quotes at three western points, losses ranged from about a nickel to nearly 60 cents.

The amounts of decline tended to get smaller Thursday, but it was clear that the price direction remained definitively downward for the foreseeable future. Not counting flat to barely lower quotes at three western points, losses ranged from about a nickel to nearly 60 cents.

The price slide that had started Thursday tended to get steeper in Friday’s trading for the weekend. There were a few single-digit declines mixed into the across-the-board softness, but plenty of points fell 20 cents or more amid the majority of dips ranging from a dime to nearly 30 cents.

Regional variations in upward price trends tended to even out a bit Tuesday. With scattered exceptions, nearly all points were united in seeing gains ranging from a little less than 15 cents to about 35 cents; however, the lion’s share of increases were clustered around the 20-25 cents range. The primary skewing came in most of the smaller gains being recorded in the West.

Much like on Tuesday, most of the cash market tended to level off Thursday. Unlike Tuesday’s trading that brought an upturn largely to a halt, however, Thursday’s numbers arrested a price slide. With a modest bias to the downside, nearly all points ranged from flat to up or down about a nickel Thursday. Only San Juan-Blanco’s drop of about a dime broke the overall price mold.