Agfax Buzz:

    May 10, 2012

    AFB Cotton Close: Rocked by Ever Increasing Stocks

    AgFax.Com - Your Online Ag News Source

    Closing commodity reports from the Arkansas Farm Bureau Commodity Staff.

    Cotton Comment
    Cotton was rocked by ever increasing world stocks. The 2011/12 production is expected to exceed use by 6.73 million bales. That will push stocks to 13.75 million bales. Smaller U.S. plantings are expected to see a million acres more harvested than in 2011, with production up 1.43 million bales to 17 million. U.S. stocks are projected to rise to 4.9 million bales. Limit down moves left the cotton market dark red. December fell to 79.37 cents and further losses are probable.

     

    Spot Price, Grade 41 Staple 34: Memphis down 400 at  7532
      Greenwood down  400 at 75

     

    New York Futures: July down 400 at 8182
      Oct down 400 at 8160
      Dec down 400 at 7937
      March down 400 at 8056
      May down 400 at 8155

    This week’s LDP rate for cotton is

    0 cents
      The estimate for next week is 0 cents

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