May 11, 2012

AFB Cotton Close: Taking A Shellacking
Cotton
Cotton is taking a shellacking. Yesterdays limit decline appears to be just a prelude to what could happen. December futures closed just above 76 cents. World stocks grew in yesterdays report and with a 2012 crop that is expected to exceed use will move higher. USDA projected 2012/13 world stocks of 73.75 million bales. The cure for low prices is low prices. This should start cotton on the road to regaining lost market share.
| Spot Price, Grade 41 Staple 34: | Memphis down 285 at 7247 |
| Greenwood down 285 at 7247 |
| New York Futures: | July | down | 285 | at | 7897 |
| Oct | down | 312 | at | 7848 | |
| Dec | down | 303 | at | 7634 | |
| March | down | 298 | at | 7758 | |
| May | down | 284 | at | 7871 | |
| This week’s LDP rate for cotton is | 0¢ cents | ||||
| The estimate for next week is | 0¢ cents | ||||
Tags: , AFB Cotton Close, AFB Cotton Market, Cotton Close, afb cotton close, AFB Cotton Market, Arkansas Farm Bureau Market Report, cotton close




