By Keith Brown DTN Cotton Contributing Analyst
March cotton collapsed under the weight of stock market liquidation Monday. Even a falling U.S. dollar could not stem the selling in the cotton market. With fears of a global slowdown, rising interest rates and no trade deal with China, cotton has no choice but to take the path of least resistance.
We were just thankful Monday was only an abbreviated holiday session. Monday’s estimated volume was 23,200 contracts. ICE futures will reopen on Wednesday at 9:30 eastern. Naturally, because of Christmas, weekly sales and exports wilt be pushed back to Friday morning.
March cotton settled at 72.65 cents, down 0.63 cent, July was 75.04 cents, down 0.92 cent and December was 73.53 cents, down 0.53 cent.
