By O.A. Cleveland
Consulting Economist, Cotton Expert
Cotton prices found a new life of contract high early in the week, traded to a high of 119.47, and spent the remainder of the period attempting, somewhat successfully, establishing the 117-cent mark as a new price support level. Yet, it does not appear that such a support level has been clearly established. Thus, trading back down to 115-cents can still be expected. The climb above 119 cents has set the market’s sights on 125 cents and the 125-135 cent range.