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CONTANGO Report Contango Report: Natural Gas Contango Widens But Remains Inconsequential- Written by Sumit Roy |
- December 10, 2012
Contango Report: Natural Gas Contango Widens But Remains Inconsequential
- Details
Natural gas roll costs increase, but are not a major concern.
Featured Commodity
CONTANGO WATCH: Natural gas’ contango widened a bit this week, but remains typical for this time of year. At $0.02, the front-month natural gas roll is relatively inconsequential, at least by natural gas standards. More pertinent for traders are weather forecasts, the key driver of natural gas over the winter months. Currently, the NOAA is calling for mild temperatures for the bulk of December, which has pressured prices in recent sessions.
ROLL COSTS: It costs investors 9.79 percent annualized to roll front-month natural gas contracts, up from a cost of 7.99 percent.
BOTTOM LINE: Contango
Has oil moved into backwardation yet? What does corn's roll yield look like? How do you know when it's time to buy—or sell?
Each week, we investigate the futures curves of the most important commodities in the U.S., helping investors better understand the market and seize buy-and-sell opportunities as soon as they arise. For an easy-to-understand explanation of contango, backwardation and roll yields, please click here to go to our Hard Assets University.
To see current contango curve and front-month roll costs for each of our selected commodities, please select a sector or commodity below (or read the whole report):
Data as of close on December 7, 2012
Data courtesy IndexUniverse.com
Energy |
Agricultural Commodities
|
Precious Metals
|
Soft Commodities |
Industrial Metals |
. |
| Current Roll | Previous Week's Roll | Past Year Average Roll | Historical 12/07 5YR Annualized Roll | ||
| Energy | WTI | 7.89% | 7.74% | 0.39% | 27.71% |
| Brent | -10.43% | -10.11% | -0.57% | 20.90% | |
| HH Natural Gas | 9.79% | 7.99% | 3.51% | 10.80% | |
| Precious Metals | Gold | 0.91% | 0.70% | 0.12% | 0.92% |
| Silver | 1.63% | 1.17% | 0.14% | 1.11% | |
| Platinum | 1.41% | 0.88% | 0.24% | 1.63% | |
| Palladium | 0.80% | 1.68% | 0.24% | 1.31% | |
| Industrial Metals | Copper | 1.32% | 0.75% | -0.02% | 1.38% |
| Aluminum | 7.15% | 6.37% | 0.50% | 7.04% | |
| Zinc | 6.28% | 5.74% | 0.22% | 5.65% | |
| Lead | 3.87% | 1.07% | 0.20% | 4.82% | |
| Nickel | 1.48% | 1.30% | 0.11% | 1.73% | |
| Tin | -0.28% | -0.27% | 0.03% | -0.28% | |
| Agricultural Commodities | Corn | 2.27% | -1.37% | -1.49% | 11.91% |
| Wheat | 6.46% | 5.43% | 1.80% | 15.74% | |
| Soybeans | -0.30% | -3.15% | -0.39% | 3.37% | |
| Live Cattle | 20.28% | 20.81% | 1.45% | 20.08% | |
| Lean Hogs | 41.77% | 38.51% | 1.35% | 40.10% | |
| Soft Commodities | Coffee C | 12.25% | 11.99% | 1.59% | 9.21% |
| Cocoa | 0.25% | 0.71% | 0.01% | 2.30% | |
| Sugar #11 | 3.82% | 0.00% | -0.35% | -5.52% | |
| Cotton #2 | 7.25% | 5.12% | 0.03% | -2.31% |
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