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AFB Cotton Close: Mostly Lower

Ernst Undesser
By Ernst Undesser June 11, 2012 15:16

Cotton Comment
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
  Oct up 3 at 6875
  Dec down 59 at 6929
  March down 71 at 7101
  May down 66 at 7194

This week’s LDP rate for cotton is

0¢ cents
  The estimate for next week is 0¢ cents

Ernst Undesser
By Ernst Undesser June 11, 2012 15:16