The prices in commodities have moved back o levels not seen in over a year and that was during a period of relatively strong global growth. The speed of the price decline has actually exceeded the movement up during 2008 in many of the markets and there are growing reports that supply is greater than current world demand. The declines in many cases have been close to 50% in a span of three months. However, current price levels have a further decline if we look to the last recession.
Commodity Current price last seen –
percent down from 2008 high
Crude Oil -- June 2007; down 54%
Natural gas -- October 2007; down 50%
Corn -- December 2007; down 49.5%
Wheat -- June 2007; down 60%
Cotton -- May 2007; down 44%
Coffee -- August 2007; down 33%
Copper -- December 2005; down 47%
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