Market technicals suggest the 60 to 62 cent level will hold for prices in the very short run – depending, in large part, on weather patterns for Texas and India.
In the world of cotton, China is still the enormous elephant in the room.
Over the past two weeks, prices for Dec14 futures have continued to slide, but tried to stabilize in the 67 to 68.5 cents range. In an extended narrow trading range like this, there is usually not much pressure/interest to push prices either direction on current news. Until July 24, it seems.
More than 200 partner companies have now joined the Cotton LEADS program since its launch in October 2013.
Cotton prices remained under pressure this past week. But the downtrend was flat, indicating that the market is ready to start curing low prices.
Meister Media Worldwide annually conducts an essay contest for students attending the ACSA International Cotton Institute in Memphis, TN. This year’s winning essay was submitted by Sayed Shoeb of Noble Natural Resources India.
Based on the results of Alabama’s July 15 primary election, the state’s cotton growers now have the opportunity to determine if their current voluntary cotton checkoff fees for marketing and research should become mandatory.
Everyone wants to know what has happened to the cotton market and why? Unfortunately, says Don Shurley, there are no easy answers.
With December futures, a drop to 65 cents is all but certain. But this week’s export sales report indicates a major sales increase in the face of declining prices. And, the sales report for next week should be just as strong.
The proposed ICE global cotton contract, targeted to launch the fourth quarter of the year, is hitting some bureaucratic bumps in Malaysia, one of the contract’s three proposed shipping points.