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AFB Cotton Close: Continues to Lose Ground

Ernst Undesser
By Ernst Undesser March 14, 2012 15:43

Cotton Comment
Cotton lost more ground today with December closing below 89 cents. There is little news to give the market direction, so the market is looking at building world stocks and the potential for a sizeable U.S. crop if conditions in Texas improve. Last year’s big price bump, cut cotton use as cheaper man-made fibers filled the void.

        
         
Spot Price, Grade 41 Staple 34: Memphis down 90 at  8114
Greenwood down  90 at 8114

 

New York Futures: May down 90 at 8714
July down 104 at 8776
Oct down 102 at 8943
Dec down 105 at 8865
March ’12 down 112 at 8968

This week’s LDP rate for cotton is

0 cents
The estimate for next week is 0 cents

Ernst Undesser
By Ernst Undesser March 14, 2012 15:43

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