April 2, 2012
AFB Cotton Close: Futures Mostly Lower
Cotton futures were mostly lower today. USDA estimates cotton planting at 13.2 million acres. The average trade estimate was 12.75 million, and the higher estimate caused weakness for the second trading day in a row.
|Spot Price, Grade 41 Staple 34:||Memphis down 40 at 8762|
|Greenwood down 40 at 8762|
|New York Futures:||May||down||40||at||9312|
This week’s LDP rate for cotton is
|The estimate for next week is||0 cents|