AFB Cotton Close: Prices Move Slightly Lower
Cotton prices closed lower today. After moving higher most to the week prices fell today as a combination of profit taking and overbought markets led to lower prices today. Like with other markets, without the report next week market will trade on the expectation of lower U.S. acreage and and potential of tighter supplies.
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,