Cotton Futures Recoup Some Losses
Spot May bounces after falling Monday’s low in overnight dealings. Cash grower sales slowed to 434 bales on The Seam.By Duane Howell DTN Cotton Correspondent
Cotton futures traded higher Monday after dipping below the prior-session low in the wee morning hours of the overnight session.
Spot May hovered up 64 points to 88.03 cents at 8:04 a.m. CDT, trading within a 103-point range from 87.21 to 88.24 cents on a contract volume of 3,589 lots. It opened flat overnight.
July gained 65 points to 89.49 cents, trading within a 108-point span from 88.60 to 89.68 cents, and December rose 24 points to 87.17 cents, trading within a 75-point range from 86.53 to 87.28 cents.
Many market participants are keeping an eye on the latest economic data for guidance ahead of the monthly payrolls report on Friday.
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Disclosure
The risk of loss in trading futures and options can be substantial, therefore only genuine "risk" funds should be used in such trading. Futures and options may not be a suitable investment for all individuals and individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. Information herein has been obtained and prepared from sources believed to be reliable; however no guarantee to its accuracy is made. Comments contained in these materials are not intended to be a solicitation to buy or sell any of the commodities mentioned. Past performance is not indicative of future performance results. Opinions expressed herein are the opinions of the author only and not the opinion of any firm the author may be affiliated or associated with.
