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29
Jan
2013
December Cotton Closes Over 80 cents
Author: Scott Stiles, Extension Economist - Risk Management

The December contract made fresh highs for the year and closed at its highest level since last September.  The September 7, 2012 high of 81.30 has been a technical price point to watch.  Today’s close at 81.18 was just 2 points off the daily high.

A Bloomberg survey has U.S. cotton acreage falling 16% to 10.32 million acres this year.  Other private estimates have U.S. acreage falling 20%.  The percentage decline in the Midsouth could reach as high as 40% by some estimates.

Link to the December 2013 daily futures chart.

http://www.barchart.com/charts/futures/CTZ13

 


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