Media Quotes

Adam Sarhan Dow Jones Newswires Quote: MARKET TALK: Cotton Futures Barely Budge on Lack of Buying

Dow Jones Newswire

15:16 EDT – Cotton futures continue to loll around between 70c. and 72.50c/lb. with China off on holiday. Volume was very thin at just 55% of 2012’s average daily volume. “Cotton continues to go virtually nowhere as it continues tracing out its long base,” says Sarhan Capital’s Adam Sarhan. A robust USDA export sales report gave futures a brief boost, sending prices to a 1-week intraday high before a lack of follow-through buying left futures to drift lower. ICE cotton for December delivery settled 0.1% lower at 72.09c/lb. ( [ 10-04-12 1516ET ]