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Barchart
Barchart
Rich Asplund

Cocoa Prices Slip on Weakness in Cocoa Butter

Ice ICCO London Deficit Ghana NY

Dec ICE NY cocoa (CCZ23) on Monday closed -49 (-1.20%), and Dec ICE London cocoa #7 (CAZ23) closed -97 (-2.71%).

Cocoa prices on Monday posted moderate losses.  Weakness in cocoa butter prices prompted long liquidation in cocoa futures after cocoa butter prices fell to a 1-week low Monday.  Losses in London cocoa futures accelerated Monday after the British pound (^GBPUSD) rallied to a 2-1/4 month high.  Strength in the pound undercuts cocoa priced in sterling.

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