Natural rubber futures dropped in Tokyo for the first time in three days as U.S. consumer confidence fell to the lowest on record in January, reigniting concerns that demand for raw materials will decline. Rubber fell after commodity prices declined yesterday by the most in two weeks. The Reuters/Jefferies CRB Index of 19 raw materials slumped 3.7 percent the largest drop since Jan. 12. “The poor demand outlook for rubber hasn’t changed much,” Felix Yeo, trading manager at a Singapore unit of Marubeni Corp. said today by phone. “The market is looking for news about stimulus plans.” Rubber for June delivery fell 2.7 percent, or 4 yen, to 144 yen a kilogram ($1,616 a metric ton) on the Tokyo Commodity Exchange at the 11 a.m. trading break. The July-delivery contract, which listed today, traded at 145.1 yen. Shanghai markets are closed this week for the Lunar New Year holiday. The Conference Board’s consumer confidence index, records for which go back to 1967, fell to 37.7, lower than forecast. A separate report showed the drop in house prices in major U.S. metropolitan areas deepened in November. State figures released yesterday showed the unemployment rate jumped in all 50 states in December.

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