On its last trading day of the year, the New York Board of Trade's active March cocoa contract rose $3 to settle at $1,504 a tonne after peaking at $1,525 a tonne which marked the loftiest for the contract since September 12.
Based on a continuation chart, NYBOT's nearby cocoa contract finished down 2.8 percent from the end of 2004 and in the middle of this year's trading range of $1,315 to $1,850.
Among other cocoa futures contracts, May gained $4 to $1,524 and longer-dated positions advanced $3 to $10.