AFB Cotton Close: Mixed With Firming Contracts
Cotton closed mixed with front end contracts continuing to firm. March is just 30 points or so away from the mid-October high. December continues to move sideways just above 79 cents and could challenge the September high just above 81 cents at some point. Potential 2013 U.S. plantings are expected to be sharply lower.
|Spot Price, Grade 41 Staple 34:||Memphis up 52 at 7505|
|Greenwood up 52 at 7505|
|New York Futures:||March||up||77||at||7855|
|This week’s LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
The ICE Dec and Mar contracts gave back 160 and 87 points on the week, respectively, as last week’s inversion between the two contracts gave way to partial carry. Well,