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Barchart
Barchart
Rich Asplund

Cocoa Prices Fall Back as Dollar Strength Sparks Long Liquidation

Dec ICE NY cocoa (CCZ23) on Friday closed -33 (-0.91%), and Dec ICE London cocoa #7 (CAZ23) closed -29 (-0.98%).

A stronger dollar Friday sparked long liquidation and profit taking in cocoa futures.  Cocoa prices have rallied over the past three months with NY cocoa last month posting a 12-year high and London cocoa posting a record high (data from 1989) due to shrinking supplies and the outlook for reduced global cocoa production.

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