October 27 – 09:10 ET) – A steep drop in lumber prices led the TD Commodity Price Index lower in October, say TD economists in their latest issue of the TD Commodity Price Report.
The 18-item TDCI in U.S. dollars fell by 1 per cent in October, reversing most of September’s gains.
Some highlights of major commodity price movements in October:
– lumber prices fell for the third consecutive month in October, erasing all of the advances made so far this year.
– newsprint prices rose for the first time this year, increasing by US$35 per tonne to reach US$515 per tonne in October.
– Gold prices, which were hovering at about US$255 per ounce in early September, reached a high of US$325 per ounce in early October before slipping to below US$300 per ounce late in the month.
– Prices of agricultural products rose modestly for the third consecutive month in October, as increases in the prices of cattle, hogs and barley more than offset declines in the prices of wheat and flaxseed, note TD economists.
-IE Staff
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