AFB Cotton Close: Ends Just Over 82 Cent Floor
Cotton prices closed lower today, as December cotton managed to stay just above the 82-cent price floor that has been established over the last few weeks. While U.S. cotton crop conditions remain bullish for prices, the weight of the global supply and demand situation continues to overshadow U.S. fundamentals.
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,