Quick Overview

• Durable goods orders dove 10.2% in January from the previous month for the biggest drop in six years, led by a decline in commercial aircraft, the Commerce Department said Friday. Excluding transport, orders were up 0.6% on the month.
  

• The U.S. economy can cope if the Federal Reserve makes a "mistake" (they usually do) and raises interest rates too high, one of its top policy-makers said on Friday, in remarks implying he did not fear delivering more rate hikes.
  
  

• Brazil's economy posted a tepid fourth-quarter recovery after a third-quarter slump, ending the year on a weak note that slowed full-year 2005 economic growth to 2.3 percent, less than half that of the year before.
  
  

• The USDA said there were 12.110 million head of cattle on feed on February 1st, up 6.8% YoY. Placements in January were up 16% YoY. Marketing’s were up 2%.
  

• The USDA estimated this week's beef production at 443.4 million pounds, up 2.8% from a year ago. The USDA estimates pork production at 395.9 million pounds, down 0.2% from YoY.
  
  

• The Florida Citrus Processors said there were 92.7 million gallons of frozen orange juice concentrate in inventory on February 18th, down 35% YoY.
  
  

• London copper inventories are at 109,225 tons.