DTN Closing Cotton Commentary
Fri Mar 15, 2013 03:14 PM CDT

Cotton futures closed the week on another mostly up day. May closed 1.64 higher at 92.50 after trading as much as 2.25 higher earlier in the day on strong commercial buying. July closed 1.22 higher at 92.76, well off its high for the day. December was modestly higher early in the session, but couldn't hold on to those gains and closed down .03 at 88.51.

Futures hit 11-month highs during the trading session Friday on increased demand, mostly from China. Technically, the May contract cleared minor price resistance during Friday's trade.

The May-to-July spread narrowed to a .26 contango (carry) ...

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