December 12, 2012

AFB Cotton Close: Higher on Technical Buying
Cotton Comment
Cotton was higher as technical buying provided follow through on yesterday’s gains. March futures moved above 75 cents and are less than a penny below the 38% retracement objective of 76.14 cents. Export movement has been good, as evidenced by yesterday’s upward bump of 200,000 bales in the supply demand numbers. That is a positive, but a long ways from solving the world supply situation.
| Spot Price, Grade 41 Staple 34: | Memphis down 22 at 7187 |
| Greenwood down 22 at 7187 |
| New York Futures: | March | up | 22 | at | 7512 |
| May | up | 21 | at | 7600 | |
| July | up | 14 | at | 7677 | |
| Oct | up | 14 | at | 7735 | |
| Dec | up | 9 | at | 7822 | |
| 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, arkansas, Arkansas Farm Bureau Market Report




