AFB Cotton Close: Price Climb Continues
Cotton prices climbed to their highest level since last August. With tightening world supplies outside of China this market is working to buy more U.S. cotton acres. While gains of more than 1-cent were seen in the nearby contact, gains in the December contract were much less as prices were unable to break resistance at 80-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,