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July 28th, 2012
Cotton Futures – Plexus Cotton Limited reported that New York (NY) futures ended the week slightly lower, as December dropped 124 points to close at 71.39 cents.
The cotton market weakened earlier this week after renewed jitters about Spain and Italy led to another “risk off” move by money managers that put pressure on the entire commodity complex, including drought-stricken corn and soybeans.
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June 14th, 2012
Cotton futures rose to a two-week high as exports soared fivefold from the U.S., the world’s biggest shipper. Orange-juice prices fell to a three-week low.
Net sales of upland cotton jumped to 1.02 million running bales in the week ended June 7 from 199,233 a week earlier, the U.S. Department of Agriculture said in a report. A running bale weighs 500 pounds, or 227 kilograms.
“We’re up because of the absolutely monster sales that were reported,” Mike Stevens, an independent trader in Mandeville, Louisiana, said in a telephone interview. “This shows a tremendous amount of business.”
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May 24, 2012
Cotton futures settled Wednesday at a fresh 2-1/4-year low on speculative sales touched off by renewed worries over euro zone debt, analysts said.
Key July cotton on the ICE Futures US exchange dropped 3.01 cents to end at 71.51 cents per lb, ranging from 70.53 to 74.26 cents.
It was the lowest settlement close for the spot cotton contract since early February 2010, according to Thomson Reuters data.
New-crop December fell 2.82 cents to close at 68.75 cents, dealing between 67.73 and 71.40 cents.
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