Commodities for Friday, May 17, 1985 : Orange Juice Futures Fall

Orange juice futures fell sharply Friday on the Cotton Exchange in New York.

Friday was the last day for trading in the contract for delivery in May, and prices fell when it became clear that there would be adequate supplies to meet demand, said Diane Viggiano, an orange juice analyst in New York with Shearson Lehman Bros.

Concern that supplies might be insufficient had led to speculative buying in previous sessions, analysts said.

But the delivery squeeze failed to materialize and, as prices began falling, it triggered additional selling by traders who base their decisions on technical factors such as trends on price charts.

Orange juice settled 1.4 cents to 4.3 cents lower with the contract for delivery in May at 151.20 cents a pound.

Cattle prices were lower and live hogs and frozen pork bellies higher on the Chicago Mercantile Exchange.

Hog prices advanced even though the slaughter of nearly 1.7 million animals was unseasonably heavy for the third consecutive week.

A livestock analyst in Chicago said meatpackers were eager to buy hogs even though the slaughter was heavy because wholesale prices of hams and bellies were strong during the week.