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AFB Cotton Close: Price Plunge Lower

Ernst Undesser
By Ernst Undesser August 20, 2013 16:35

Cotton Comment

Cotton prices plunged lower today, with the October and December contracts closing down the limit. Sharp gains over the last week moved this market into oversold territory signaling a technical selloff in cotton. While the U.S. crop conditions continue to worsen, overall global supplies remain large putting downward pressure on cotton.

        
         
Futures:
High Low Last Change
Oct ’13 92.00 88.76 88.76 -4.00
Dec ’13 92.80 88.86 88.86 -4.00
Mar ’14 89.89 86.00 86.28 -3.72
May ’14 87.28 84.79 84.99 -2.73
Jul ’14 85.00 83.10 83.53 -1.88
Oct ’14 78.73 -1.35
Dec ’14 79.09 77.85 78.00 -1.51
Mar ’15 77.81 -1.45

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Ernst Undesser
By Ernst Undesser August 20, 2013 16:35

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