AFB Cotton Close: First Week of Sharp Losses Since Feb.
Cotton prices closed the week with sharp losses for the first time since February. Last Fridays USDA report showed lower exports and a sharp increase in 2014/15 stocks. With so much uncertainty surrounding demand for the 2014/15 crop look for cotton prices to have difficulty maintaining another run at the 85-cent level.
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,