April 16, 2012
AFB Cotton Close: Market Under Heavy Pressure
Closing commodity reports from the
Arkansas Farm Bureau Commodity Staff.
Cotton Comment
The threat of a slowing Chinese economy and new export permits from India put cotton under heavy pressure. The result was the lowest December futures level in 4 months. That was the contract low near 84 cents which is the next downside target. Big world stocks will continue to limit export opportunities.
| Spot Price, Grade 41 Staple 34: | Memphis down 400 at 8258 |
| Greenwood down 400 at 8258 |
| New York Futures: | May | down | 400 | at | 8808 |
| July | down | 248 | at | 8725 | |
| Oct | down | 256 | at | 8787 | |
| Dec | down | 231 | at | 8637 | |
| March ’12 | down | 232 | at | 8722 | |
|
This week’s LDP rate for cotton is |
0 cents | ||||
| The estimate for next week is | 0 cents | ||||
