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AFB Cotton Close: Market Makes Strong Gains

Ernst Undesser
By Ernst Undesser April 12, 2012 15:58

Cotton Comment
Cotton made strong gains as fertilizer price levels and soybean profit potential seems to be pulling acreage from cotton. March intentions had plantings over 13 million acres, but November soybeans advanced 75 cents or more since that survey was made. Fertilizer price has moved sharply higher, raising the cost of cotton production. December has firmed after drifting below 88 cents for several days.

        
         
Spot Price, Grade 41 Staple 34: Memphis up 162 at  8750
Greenwood up  162 at 8750

 

New York Futures: May up 162 at 9300
July up 150 at 8980
Oct up 169 at 8961
Dec up 119 at 8830
March ’12 up 116 at 8925

This week’s LDP rate for cotton is

0 cents
The estimate for next week is 0 cents

Ernst Undesser
By Ernst Undesser April 12, 2012 15:58

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