COMMODITY

CHARTBOOK
SEPTEMBER 30, 2011
1555 NorthPark Drive #102
Weston, Florida 33326
www.horowitzandcompany.com
p 954-349-0800 f 954-349-1414

Commodity Futures Returns

Commodity
Copper
Gasoline
Sugar #11 (ICE)
Silver
Cotton
WTI Crude
Corn
Wheat
Natural Gas
Soybeans
Gold
Coal
Lumber
Uranium

Indices
CRB Spot Metal Index
CRB Food Index
CRB Commodity Index
DJ UBS Energy Index

YTD

1 Month

3 Month

6 Month

1-Year

-29.16%
3.46%
-21.26%
-2.68%
-31.83%
-13.33%
8.44%
-23.29%
-16.78%
-15.41%
14.30%
-7.58%
-30.10%
-16.18%

-24.89%
-16.29%
-14.79%
-27.86%
-6.77%
-10.82%
1.60%
-18.25%
-9.57%
-18.63%
-11.05%
-4.10%
-12.62%
5.90%

-26.38%
-16.28%
-10.83%
-13.58%
-38.23%
-17.00%
7.19%
4.19%
-16.19%
-9.74%
8.24%
-4.78%
-13.80%
0.77%

-26.86%
-18.33%
-6.71%
-20.60%
-50.70%
-25.79%
10.76%
-20.18%
-16.47%
-16.40%
13.38%
-4.93%
-30.42%
-11.78%

-13.74%
24.12%
-0.04%
37.86%
-5.25%
-0.96%
5.08%
-9.61%
-5.32%
6.53%
24.12%
15.90%
-7.00%
11.94%

YTD

1 Month

3 Month

6 Month

1-Year

-13.70%
5.92%
-2.39%
-17.73%

-11.78%
-8.14%
-6.47%
-8.38%

-15.42%
-4.99%
-8.04%
-15.66%

-20.20%
-6.87%
-11.14%
-23.52%

-0.96%
8.78%
4.70%
-11.48%

Data as of: 10/1/2011

10/1/2011

Palladium
Sep-11

Silver

Source: Horowitz & Company/Bloomberg

Palladium

120%

100%

80%

60%

40%

20%

0%

-20%

-40%

CRB Spot Metal Index

Source: Horowitz & Company/Bloomberg

Sep-11

Aug-11

Jul-11

Jun-11

May-11

Apr-11

Mar-11

Feb-11

Jan-11

Dec-10

Nov-10

Oct-10

Sep-10

Aug-10

Jul-10

Jun-10

May-10

200%

Aug-11

Jul-11

CRB Spot Metal Index

Jun-11

May-11

Apr-11

Apr-10

0%

Mar-10

20%

Mar-11

40%

Feb-10

60%

Feb-11

-20%

Jan-10

80%

Jan-11

Sep-11

Aug-11

Jul-11

Jun-11

May-11

Apr-11

Mar-11

Feb-11

Jan-11

Dec-10

Nov-10

Oct-10

Sep-10

Gold

Dec-10

Nov-10

Oct-10

Sep-10

Aug-10

Jul-10

Jun-10

May-10

Apr-10

Mar-10

Gold

Feb-10

Jan-10

Aug-10

Jul-10

Jun-10

May-10

Apr-10

Mar-10

Feb-10

Jan-10

Precious Metals
Silver

70%

150%

50%

100%

30%

50%

10%

0%

-10%

-50%

CRB Spot Metal Index

Source: Horowitz & Company/Bloomberg

10/1/2011

Zinc
CRB Spot Metal Index

Source: Horowitz & Company/Bloomberg

Aluminum

Sep-11

Aug-11

Jul-11

Jun-11

May-11

-20%

Apr-11

-10%

Mar-11

Source: Horowitz & Company/Bloomberg

Feb-11

0%

Jan-11

30%

Dec-10

Lead

Nov-10

30%

Sep-11

Aug-11

Jul-11

Jun-11

May-11

Apr-11

Mar-11

Feb-11

Jan-11

Dec-10

Nov-10

Oct-10

Sep-10

Aug-10

Jul-10

Jun-10

May-10

Apr-10

Copper

Oct-10

Zinc

Sep-10

40%

Aug-10

CRB Spot Metal Index

Jul-10

40%

Jun-10

50%

May-10

-20%

Apr-10

-10%

Mar-10

0%

Mar-10

10%

Feb-10

20%

Feb-10

30%

Jan-10

Sep-11

Aug-11

Jul-11

Jun-11

May-11

Apr-11

Mar-11

Feb-11

Jan-11

Dec-10

Nov-10

Oct-10

Sep-10

Aug-10

Jul-10

Jun-10

May-10

Apr-10

Mar-10

Feb-10

Jan-10

40%

Jan-10

Sep-11

Aug-11

Jul-11

Jun-11

May-11

Apr-11

Mar-11

Feb-11

Jan-11

Dec-10

Nov-10

Copper

Oct-10

Sep-10

Aug-10

Jul-10

Jun-10

May-10

Apr-10

Mar-10

Feb-10

Jan-10

Metals
Lead

40%

30%

20%

10%
0%

-10%

-20%

-30%

-40%

CRB Spot Metal Index

Source: Horowitz & Company/Bloomberg

Aluminum

20%

20%
10%

10%

0%

-10%

-20%

CRB Spot Metal Index

Source: Horowitz & Company/Bloomberg

10/1/2011

Coal
DJ UBS Energy Index

Source: Horowitz & Company/Bloomberg

Natural Gas

Sep-11

Aug-11

Jul-11

Jun-11

May-11

Apr-11

Source: Horowitz & Company/Bloomberg

Mar-11

Gasoline

Feb-11

-40%

Jan-11

-20%

Dec-10

Coal

Nov-10

DJ UBS Energy Index

Oct-10

0%

Sep-11

Aug-11

Jul-11

Jun-11

May-11

Apr-11

Mar-11

Feb-11

Jan-11

Dec-10

Nov-10

Oct-10

Sep-10

Aug-10

Jul-10

Jun-10

May-10

WTI Crude

Sep-10

40%

Aug-10

10%

Jul-10

60%

Jun-10

20%

May-10

80%

Apr-10

-30%

Apr-10

-20%

Mar-10

0%

Mar-10

10%

Feb-10

20%

Feb-10

40%

Jan-10

Sep-11

Aug-11

Jul-11

Jun-11

May-11

Apr-11

Mar-11

Feb-11

Jan-11

Dec-10

Nov-10

Oct-10

Sep-10

Aug-10

Jul-10

Jun-10

May-10

Apr-10

Mar-10

Feb-10

Jan-10

50%

Jan-10

Sep-11

Aug-11

Jul-11

Jun-11

May-11

Apr-11

Mar-11

WTI Crude

Feb-11

Jan-11

Dec-10

Nov-10

Oct-10

Sep-10

Aug-10

Jul-10

Jun-10

May-10

Apr-10

Mar-10

Feb-10

Jan-10

Energy
Gasoline

80%

60%

30%

40%

20%
0%

-10%

-20%

-40%

DJ UBS Energy Index

Source: Horowitz & Company/Bloomberg

Natural Gas

0%

-10%

20%
-20%

-30%

-40%

-50%

DJ UBS Energy Index

Source: Horowitz & Company/Bloomberg

10/1/2011

Soybeans
CRB Food Index

Source: Horowitz & Company/Bloomberg

Sugar #11 (ICE)

Sep-11

Aug-11

Jul-11

Jun-11

May-11

-60%

Apr-11

-20%

Mar-11

-40%

Feb-11

Source: Horowitz & Company/Bloomberg

Jan-11

-10%

Dec-10

Wheat

Nov-10

0%

Sep-11

Aug-11

Jul-11

Jun-11

May-11

Apr-11

Mar-11

Feb-11

Jan-11

Dec-10

Nov-10

Oct-10

Sep-10

Aug-10

Jul-10

Jun-10

May-10

Corn

Oct-10

40%

Sep-10

Soybeans

Aug-10

CRB Food Index

Jul-10

40%

Jun-10

60%

May-10

50%

Apr-10

-10%

Apr-10

0%

Mar-10

10%

Mar-10

20%

Feb-10

30%

Jan-10

40%

Feb-10

30%

Sep-11

Aug-11

Jul-11

Jun-11

May-11

Apr-11

Mar-11

Feb-11

Jan-11

Dec-10

Nov-10

Oct-10

Sep-10

Aug-10

Jul-10

Jun-10

May-10

Apr-10

Mar-10

Feb-10

Jan-10

50%

Jan-10

Sep-11

Aug-11

Jul-11

Jun-11

May-11

Apr-11

Mar-11

Feb-11

Jan-11

Dec-10

Corn

Nov-10

Oct-10

Sep-10

Aug-10

Jul-10

Jun-10

May-10

Apr-10

Mar-10

Feb-10

Jan-10

Grains
Wheat

70%

60%

50%

40%

30%

20%

10%
0%

-10%

-20%

-30%

CRB Food Index

Source: Horowitz & Company/Bloomberg

Sugar #11 (ICE)

20%

20%

10%
0%

-20%

CRB Food Index

Source: Horowitz & Company/Bloomberg

10/1/2011

Cotton
CRB Commodity Index

Source: Horowitz & Company/Bloomberg

Lumber

Sep-11

Aug-11

Jul-11

Jun-11

May-11

Apr-11

Mar-11

Source: Horowitz & Company/Bloomberg

Feb-11

Jan-11

-50%

Dec-10

Cattle

Nov-10

0%

Sep-11

Aug-11

Jul-11

Jun-11

May-11

Apr-11

Mar-11

Feb-11

Jan-11

Dec-10

Nov-10

Oct-10

Sep-10

Aug-10

Jul-10

Jun-10

May-10

Apr-10

Hogs

Oct-10

Cotton

Sep-10

CRB Food Index

Aug-10

50%

Jul-10

100%

Jun-10

150%

May-10

200%

Apr-10

-10%

Mar-10

10%

Mar-10

20%

Feb-10

30%

Feb-10

60%

Jan-10

Sep-11

Aug-11

Jul-11

Jun-11

May-11

Apr-11

Mar-11

Feb-11

Jan-11

Dec-10

Nov-10

Oct-10

Sep-10

Aug-10

Jul-10

Jun-10

May-10

Apr-10

Mar-10

Feb-10

Jan-10

70%

Jan-10

Sep-11

Aug-11

Jul-11

Jun-11

May-11

Apr-11

Mar-11

Feb-11

Jan-11

Dec-10

Hogs

Nov-10

Oct-10

Sep-10

Aug-10

Jul-10

Jun-10

May-10

Apr-10

Mar-10

Feb-10

Jan-10

Agriculture
Cattle

50%

40%

50%
30%

40%

20%

10%
0%

0%
-10%

CRB Food Index

Source: Horowitz & Company/Bloomberg

Lumber

70%

60%

50%

40%

30%

20%

10%

0%

-10%

-20%

CRB Commodity Index

Source: Horowitz & Company/Bloomberg

Source: Horowitz & Company/Bloomberg

Source: Horowitz & Company/Bloomberg

Energy
Heating Oil

Uranium

60%

70%

50%

60%

40%

50%
40%

30%

30%

20%

20%
10%

10%

0%

Heating Oil

DJ UBS Energy Index

Source: Horowitz & Company/Bloomberg

10/1/2011

Uranium

Sep-11

Aug-11

Jul-11

Jun-11

May-11

Apr-11

Mar-11

Feb-11

Jan-11

Dec-10

Nov-10

Oct-10

Sep-10

Aug-10

Jul-10

Jun-10

May-10

Apr-10

Mar-10

Feb-10

Sep-11

Aug-11

Jul-11

Jun-11

May-11

Apr-11

Mar-11

Feb-11

Jan-11

Dec-10

Nov-10

Oct-10

Sep-10

Aug-10

Jul-10

Jun-10

-30%

May-10

-30%

Apr-10

-20%

Mar-10

-20%

Feb-10

-10%

Jan-10

-10%

Jan-10

0%

DJ UBS Energy Index

Source: Horowitz & Company/Bloomberg

1555 NorthPark Drive #102

Weston, Florida 33325
p 954-349-0800 f 954-349-1414

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The information contained herein is as of the date and time referenced above and Horowitz & Company does not undertake any ob ligation to
update such information. All market prices, data and other information are not warranted as to completeness or accuracy and are subject t o
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