Weekly Cotton Outlook
This week, cotton prices again provided a bit for the bulls and a bit for the bears but both needed to be nimble to capitalize. New York prices traded in a 4.38 cent range, closing the week a whopping 2.07 cent higher. However, US prices moved inside 3.00 cents of the A Index this week providing encouragement for bulls that additional export sales may be forthcoming. Expect good near term support as mills fix or roll positions ahead of First Notice Day accompanied by speculators who are buying strength. China mill-delivered prices remain firm but the forward and futures market began showing weakness late this week. Prices are expected to remain rather listless without some excitement in the March futures delivery process.