Weekly Cotton Comments
Duane Howell DTN Contributing Cotton Analyst
Fri Aug 15, 2014 05:45 AM CDT

Underlying mill buying and bouts of short-covering have helped cotton futures to eke out small gains in the face of statistically bearish supply-demand estimates.

Benchmark December edged up 65 points for the week ended Thursday to close at 64.67 cents, finishing in the upper third of a 198-point range. It slipped to a six-session low on the heels of USDA's supply-demand report, falling to 63.29 cents, and rallied the next day to its highest intraday price at 65.27 cents since July 29.

The market absorbed forecasts for 2014-15 ending stocks to rise from month-ago projections by 400,000 bales to 5.6 ...

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