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Cocoa hits low.(Commodity Report)(LONDON COCOA FUTURES low performance)(Brief Article)
LONDON COCOA FUTURES fell to a six-month low in the opening days of 2005 as a number of large US investors began liquidating their positions as the new year's trading got underway. On 5 January, the March contract on LIFFE hit a low of UK[pounds sterling]815 a tonne before ending the day slightly up at UK[pounds sterling]818. These were the lowest levels seen since 6 July 2004 when the nearby contract touched UK[pounds sterling]802 a tonne.
London cocoa futures moved marginally higher towards mid-January, mainly on structural trade, with the March contract closing trading at UK[pounds sterling]831 a tonne on 14th. Traders said the market …
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