Agfax Buzz:

    March 14, 2012

    AFB Cotton Close: Continues to Lose Ground

    AgFax.Com - Your Online Ag News Source

    Closing commodity reports from the Arkansas Farm Bureau Commodity Staff.

    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

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