June 11, 2012
AFB Cotton Close: Mostly Lower
Cotton was mostly lower, the exception being nearby July. Upside potential will be limited by big world stocks. Unless there are some big surprises in the report it will be difficult for December to move to the 38 percent retrace meant near 77 cents.
|Spot Price, Grade 41 Staple 34:||Memphis up 219 at 7109|
|Greenwood up 219 at 7109|
|New York Futures:||July||up||219||at||7509|
This week’s LDP rate for cotton is
|The estimate for next week is||0¢ cents|