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AFB Cotton Close: Narrow Trade Ends Mixed

Ernst Undesser
By Ernst Undesser May 2, 2012 15:37

Cotton Comment
Cotton traded in a narrow range and ended mixed. Renewed export registration by India provided the initial market pressure. That appears to have run its course with improved U.S. economic reports providing outside influence. A disappointing employment report, showing only 119,000 jobs created in April, added pressure across the board. Long term the market still must deal with huge world stocks which will limit upside expectations.

        
         
Spot Price, Grade 41 Staple 34: Memphis down 17 at  8201
Greenwood down  17 at 8201

 

New York Futures: May down 5 at 8746
July down 17 at 8951
Oct down 17 at 8903
Dec down 36 at 8658
March ’12 up 13 at 8802

This week’s LDP rate for cotton is

0 cents
The estimate for next week is 0 cents

Ernst Undesser
By Ernst Undesser May 2, 2012 15:37

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