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From Arkansas Farm Bureau Daily Commodity Report

Closing Cotton 3-10

 

Spot Price, Grade 41 Staple 34: Memphis down 12 at  7571
  Greenwood down  12 at 7571

 
New York Futures: May down  12  at  8021 
  July up  3  at  8065 
  Oct up  41  at  7679 
  Dec up  12  at  7549 
  March 2011 up  44  at  7675 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents

Cotton Comment
Cotton ended the session narrowly mixed after USDA made a smaller than expected downward adjustment in China’s production estimate. USDA knocked 500,000 bales off their estimate, while China’s estimate was lowered 3 million bales last week. USDA did increase domestic use 100,000 bales, dropping projected ending stocks at 3.2 million bales. New crop contracts worked a little higher, with December closing at 75.49 cents. A test of resistance at 78.25 cents is a long term possibility.

 

DTN Cotton:

Opening | Closing 

USDA Cotton:

Daily | Weekly

NYBOT Cotton:

Futures | Options