Bacon County Ag Update

December Cotton Market News -Cotton Hits a Wall at 65 cents

Excerpt

While cotton futures prices are still in the long standing 62 to 67-cent trading range, prices made a nice “recovery” over the past few weeks. Prices (Mar16 futures) have “rallied” from the 60-cent threat back in October and from just below 62 cents on Nov 23, to almost 65 cents on Wednesday this week before faltering 104 points (1.04 cents) yesterday.

Yesterday’s disappointing decline is likely due simply to some of the bullish “energy” running out after the nice uptick we’ve experienced recently, a not so encouraging export report this week, and perhaps this week’s USDA production and supply/demand numbers.

 

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