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AFB Cotton Close: Futures Continue Lower

Ernst Undesser
By Ernst Undesser July 3, 2014 15:07

Cotton Comment

Cotton futures were trading lower. All cotton acreage is now estimated to be 11.4 million acres. That is up 3% from the previous USDA estimate and up 9% from a year ago. Upland cotton is up 10% at 11.2 million while American Pima is down 11% at 178,000 acres. Expectations for weakening demand also factor in heavily to today’s price action. December is now trading at its lowest level in a year. The market charted another leg down today, but found support at 72.51 for the time being.

        
         
Futures:
High Low Last Change
Jul ’14 – – – – – – 76.22 -0.47
Oct ’14 72.23 71.52 71.79 -0.47
Dec ’14 72.62 71.52 72.06 -0.41

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Ernst Undesser
By Ernst Undesser July 3, 2014 15:07

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