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Home / Futures Blog / Cotton futures hover above two-year lows

Cotton futures hover above two-year lows

May 11, 2012 by Daniels Trading

Projections of increased supplies pulled down cotton futures to their lowest price in 21 months on Friday, according to Reuters.

Also tugging down the value of the soft fiber on Friday was the reduced pace of industrial production in Asia. Global supplies of cotton are projected to gain 10 percent to amount to 73.75 million bales for when the season begins on August 1, according to a forecast issued by the U.S. Agriculture Department.

"If China's slowing more than expected, then it drives the risk-off attitude in commodity markets," agribusiness economist Michael Creed with National Australia Bank told Bloomberg. "The market is still trying to come to grips with the weakening global economy and a market that's looking increasingly comfortable in terms of how well it’s supplied."

At 2:34 p.m. on Friday, cotton futures dropped 3.48 percent, a .0285 cent loss to 78.97 cents per pound.

Reuters reports the soft fiber was nearing its lowest price in 24 months for the second consecutive trading session.

The record price of cotton futures is $2.197 per pound as established on March 7 of last year.

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Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

Filed Under: Archived News

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Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

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