During the month of June, there was only 1 sector that was positive and that was Livestock coming in at +3.97%. The bottom 3 sectors were: crypto (-41.13%), energies (-10.93%) and indices (-7.91%). Without question it was a difficult month for most commodities. With the Fed’s main focus on controlling inflation, the rate hike of 75 bps really put pressure on the commodity markets. The question still remains, has inflation peaked? Does it still have room to run? It’s still tough to say but the US Dollar remains strong against all other major currencies, with the Euro nearing its 20 year lows. Gold and Silver continued its struggles from the previous month, along with all the energy markets with Natural Gas being the single largest loser in the energy sector, -33.41%.
Starting this month, we have also added Crypto to our chart for tracking purposes, which only includes the two largest Cryptocurrencies (Bitcoin and Ethereum).
Sector & Index Performance Consists of the following:
Grains: Corn, Soybean Meal, Oats, Soybeans, Soybean Oil, Wheat, Rough Rice. Livestock: Live Cattle, Feeder Cattle, Lean Hogs. Softs: Cocoa, Orange Juice, Sugar No. 11, Random Length Lumber, Coffee, Cotton No. 2. Currencies: Euro Currency, Japanese Yen, British Pound, Canadian Dollar, Swiss Franc, US Dollar, Brazilian Real, Mexican Peso, Australian dollar. Indices: S&P 500, Mini Dow, Mini Nasdaq. Interest Rates: 30-year t-bond, 10-year t-note, 5-year t-note, Eurodollars. Metals: Gold, Silver, Copper, Platinum, Palladium. Energy: Crude Oil, Reformulated Gas, Natural Gas, Heating Oil, Denatured Fuel Ethanol. Crypto: Bitcoin and Ethereum. S&P 500 Index – All data collected from investing.com. S&P GSCI Index – data collected from us.spindices.com/indices/commodities/sp-gsci.