April 25, 2012
AFB Cotton Close: Moderately Lower
Closing commodity reports from the
Arkansas Farm Bureau Commodity Staff.
Cotton Comment
Cotton was modestly lower today. China’s larger than expected plantings weighed on the market. However, it should be noted that an almost 10% cut in plantings will mean China will have to import more cotton, or use part of their stocks. The size of the U.S. crop, which is a big question, will be a major factor in whether this market can move higher. December resistance is layered in 3 cents intervals beginning at 91 cents.
| Spot Price, Grade 41 Staple 34: | Memphis down 66 at 8330 |
| Greenwood down 66 at 8330 |
| New York Futures: | May | down | 47 | at | 8889 |
| July | down | 66 | at | 9080 | |
| Oct | down | 36 | at | 9129 | |
| Dec | down | 7 | at | 8864 | |
| March ’12 | down | 1 | at | 8937 | |
|
This week’s LDP rate for cotton is |
0 cents | ||||
| The estimate for next week is | 0 cents | ||||
