During the month of May, the top 3 performing sectors were: livestock (+6.55%), energy (+4.02%), and metals (+3.36%). The bottom 3 sectors were: grains (-5.56%), interest rates (+0.39%) and the financial indices (+0.57%). Overall, markets were fairly green across the board. Investor sentiment remains strong as financial indices lock in their fourth consecutive month of gains. According to the CDC, 50% of Americans have received at least 1 dose of the Covid-19 vaccine and just over 40% of Americans have been fully vaccinated. Jobless claims hit a post-pandemic low as restrictions for businesses are slowly lifted and things start reverting back to the pre-pandemic normal. Looking into the commodity markets, the grain rally exhausted and pulled off its’ 7-year highs. Livestock outperformed a majority of the markets with feeder cattle up +13.29% and lean hogs up +6.47%. And, oil broke its’ 2019 highs amidst a gas shortage scare that occurred early in the month on the East coast.
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. S&P 500 Index – data collected from investing.com. S&P GSCI Index – data collected from us.spindices.com/indices/commodities/sp-gsci.