AFB Cotton Close: Ended Mixed
Cotton closed mixed as the market couldnt extend yesterdays gains even with positive outside market influence. Today, the outside markets just limited downside pressure. There isnt enough evidence of improving world economics to give cotton a big boost. Huge world stocks will limit upside potential.
|Spot Price, Grade 41 Staple 34:||Memphis down 149 at 8454|
|Greenwood down 149 at 8454|
|New York Futures:||May||down||149||at||9004|
|This week’s LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
The ICE Dec and Mar contracts gave back 160 and 87 points on the week, respectively, as last week’s inversion between the two contracts gave way to partial carry. Well,