Cotton Market Shifts Focus to Production Amidst Price Volatility
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- Published: Tuesday, 23 April 2024 06:21
The cotton market endured another tumultuous week, marked by price fluctuations and cautious sentiment as the December contract plunged to a low of 77.26 cents before rebounding slightly to settle the week at 77.55. While the old crop May contract closed at 78.69 cents, attention now turns to the upcoming spot month, July, which settled above 80 cents at 81.02. However, this optimism was tempered by the realization that only three contracts on the Board closed above 80 cents, indicating ongoing volatility and uncertainty in the market.