ICE Cotton Futures Also Succumb To General Pull-Back
Cotton futures on the ICE Futures U.S. exchange took a
break from scoring new record highs early Friday, trading down 0.25 cent a
pound at $1.4015 a pound. Some traders refered to the slight pull-back as
profit-taking on the news of the better-than-expected non-farm payrolls report,
while others suggested a major drop in prices is unlikely as demand still
appears to be strong judging by Thursday's U.S. Department of Agriculture
report on export sales.
break from scoring new record highs early Friday, trading down 0.25 cent a
pound at $1.4015 a pound. Some traders refered to the slight pull-back as
profit-taking on the news of the better-than-expected non-farm payrolls report,
while others suggested a major drop in prices is unlikely as demand still
appears to be strong judging by Thursday's U.S. Department of Agriculture
report on export sales.
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