Cotton Prices Re-Testing 4 Month Lows

05 Apr in Blog, coffee futures, commodity broker, commodity trading, cotton futures, futures broker, futures trading, lumber futures, Michael Seery, milk futures, option broker, orange juice futures, Seery Futures LLC, soft commodities, sugar futures

Cotton Futures--- Cotton futures this morning for the December contract are retesting 4 month lows down 25 points trading currently at 87.85 a bale with the 4 month low of 87.50 which happened three weeks ago. Grain prices continue to move higher off of last Fridays USDA report but it has not affected cotton prices at all sending them lower for the week by over 300 points and if they break the 87.50 level there might be a retest of $.84 in the next couple of weeks. In my opinion I believe cotton prices will hold these levels and will head higher into spring and summer months, however if it does break $87.00 I would no longer be in the trade on the long side but wait for a better entry. If you are looking for a futures broker feel free to contact Michael Seery at 800-615-7649 and he will be more than happy to help you with your trading.

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