AFB Cotton Close: Prices Hold Above 75
Cotton prices continue to hold above the 75-cent level. During November we have seen cotton move into a trading pattern between 75 and 78-cents. Cotton continues to feel the pressure of uncertain China cotton policy. With large global supplies and marginal demand growth, it will be far more difficult for price to move out of the top side of the range than the bottom of the range.
Bolls are sprouting in soggy central and southeastern Texas, where it has rained 9 straight days and even more in some areas. There are numerous insurance issues related to loss