NEWS
DTN Closing Cotton Commentary
Duane Howell DTN Contributing Cotton Analyst
Mon Mar 18, 2013 02:31 PM CDT

Cotton futures settled lower Monday as weakness in outside markets encouraged profit-taking amid fears that a proposed bailout for Cyprus could result in a deepening of Europe’s debt crisis.

Spot May closed off 167 points at 90.83 cents, below the middle of the session trading range from unchanged at 92.50 to down 270 points at 89.80 cents. July dropped 138 points to 91.38 cents and December dipped a slight 12 points to 88.39 cents.

Volume slowed to an estimated 21,900 lots from 36,898 lots the previous session when spreads accounted for 14,188 lots or 39% and EFP for 103 lots. ...

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