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AFB Cotton Close: Rocked by Ever Increasing Stocks

Ernst Undesser
By Ernst Undesser May 10, 2012 16:02

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

Ernst Undesser
By Ernst Undesser May 10, 2012 16:02

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