Dec cotton futures on the ICE gave up 43 points on the week, settling at 64.21. It was Dec’s 5th consecutive weekly loss for a total of 330 points. The dismal run lower began post the week ending June 26, in which the contract posted a 361 point gain. Still, no one losing week has been catastrophic with the market trading less than a 300 point range over the last three weeks. This week’s settlement above 64.00 and the Dec – Mar flat to inverted spread are minor bright spots over the near-term.
For next week…
