DJ MARKET TALK: Cotton Slips on Strong Dollar, Demand Concerns

DJ MARKET TALK: Cotton Slips on Strong Dollar, Demand Concerns

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14:44 EDT - Cotton futures fell, pressured by a stronger dollar and global macroeconomic uncertainty, including worries over a slowdown in China, the world's top cotton consumer. "There is some belief that prices will eventually trek to challenge support at the 70-cent area and perhaps move to 65," says the University of Georgia's Don Shurley. "This could occur as (the) cotton harvest begins and new crop cotton eventually enters the pipeline." However, he adds that increased buying at those lower levels "could save the day." ICE cotton for December delivery settled 1% lower at 72.50c/lb.

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