A futures contract that persistently moves up or down by just a penny or two each day imposes its own burden on the market. While speculators are said to prosper from volatility, and sellers want higher prices and buyers prefer them lower, everyone prefers a story. Apparently, the cotton market is boring everyone involved. It has traded in the same 69₵ to 72₵ range for months, and the October WASDE failed to provide any other direction.
While the U.S. cotton market has seen volatility in recent years, over three-quarters of it is exported to the world market, which has been flatter than a pancake for years.
The lack of demand growth against synthetics has been a challenge. Expectations lean bearish. However, war-torn Ukrai...
What You Need to Know Today: There is a global rotation out of tech stocks right now amid profit-taking and expectations of interest rate hikes later this year. The White House said Iran will use its upcoming unsanctioned oil revenue to buy U.S. agricultural products, a claim that Iran later s...
USDA will release its Quarterly Hogs and Pigs report on Thursday. Below are analysts’ estimates for the report. The biggest change since the 1 March report is the number of market hogs, which is expected to be up 1.1 percent from what was implied in March. The percent increase in hogs we...
Beef packer margins deteriorated to -$243/head last week, down $25 from the prior week as higher fed cattle prices more than offset a slight decline in the Choice cutout. The cutout eased to $390/cwt while fed cattle prices climbed to $260/cwt - just of all-time highs - extending the seasonal s...
