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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Cotton futures slip after upward drive early in sessoin

May 29, 2012 04:52 PM

Cotton futures hovered on Tuesday as early gains during the session were tempered, according to Reuters.

Following a post-Memorial-Day-boost on Tuesday morning, the soft fiber lost momentum and dropped 1.1 percent of its value, roughly 0.82 cents, to hover between 72.45 cents and 75.33 cents. Tuesday's range was higher than the 71.51 cent value seen last Wednesday {unclear}, the lowest price in more than two years.

"It was time for a little technical bounce," independent analyst Mike Stevens told Reuters regarding cotton's movement early in the session. "The market's ripe for (some) short-covering."

At 2:35 p.m. on Tuesday, cotton futures fell 1.11 percent, a 0.82 loss to 72.8 cents per pound.

The record price for cotton futures is $2.197 per pound as established in early March of 2011.

Should an impasse between cotton farmers and merchants in Zimbabwe continue, the government might step forward and purchase the soft fiber directly from farmers, fibre2fashion.com reports. Agriculture Minister Joseph Made disclosed that intention per the advice of the nation's cabinet as to how to address the issue.

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