Weekly Cotton Comments
Duane Howell DTN Contributing Cotton Analyst
Fri Sep 12, 2014 05:37 AM CDT

Sharply lower U.S. crop prospects have propelled cotton futures to nearly a two-month high close in benchmark December even as prospective world ending stocks have climbed to a new all-time high.

December advanced four sessions in a row and gained 264 points to finish the week ended Thursday at 68.09 cents, smack on a 38.2 percent retracement of the 1,588-point move from the June 23 high to the Aug. 1 contract low at 62.02 cents.

This marked the December contract's highest close since July 14. December vaulted above its 50-day moving average at midweek and penetrated a four-month downtrend line, ...

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