DTN Closing Cotton: Cotton Leaves Traders Speechless
DTN Closing Cotton: Cotton Leaves Traders Speechless

DTN Closing Cotton: Cotton Leaves Traders Speechless

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Το περιεχόμενο του άρθρου δεν είναι διαθέσιμο στη γλώσσα που έχετε επιλέξει και ως εκ τούτου το εμφανίζουμε στην αυθεντική του εκδοχή. Μπορείτε να χρησιμοποιήσετε την υπηρεσία Google Translate για να το μεταφράσετε.

Keith Brown DTN Contributing Cotton Analyst    

The cotton market's devastating meltdown this week left traders financially poorer and speechless. From last Friday's close, the market has spilled some 22.00 cents lower. Fears of a recession, continued Chinese lockdowns and improving West Texas weather collectively weighed on prices.    

Next Thursday, USDA will issue its planted acres report. Early expectations are calling for an increase in plantings for this season.    Friday afternoon the CFTC will issue its weekly commitment of traders report. However, its data will be as of this past Tuesday's settlement. Thus, the complete speculative liquidation picture will not be known until next week.    

The Dow Jones was higher Friday. Early on, a consumer sentiment report showed a slight easing of inflation expectations. The Dow Jones Industrial Average rose 646 points or 2.1%. All three major averages are looking to snap three-week losing streaks.    

For Friday, July cotton settled at 103.76 cents, down 32.56 cents, December closed at 98.05 cents, down 3.96 cents and March 2023 finished at 93.52 cents, 4.21 cents lower. Today's estimated volume was 43,493 contracts.    

Keith Brown can be reached at commodityconsults@gmail.com 

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