Colosseum a.s. (Colosseum a.s.)
Commodities  |  January 21, 2013 16:20:28

Cotton continues to grow and is the highest since May 2012

ColosseumThe highest closing price of the most active futures contract since May last year reached the final last week's trading session on the exchange ICE Futures U.S. in March cotton. The aforementioned movement reacted to signs of robust demand for U.S. supplies. According to the U.S. Department of Agriculture export sales of cotton grown in the U.S. in the week ending January 10 to 73% compared to the previous week. Positively to growth in cotton prices also trailed GDP growth in China in the fourth quarter of 2012 by 7.9% compared to the same period the previous year. China has traditionally been the largest importer and consumer of cotton while in the world. Cotton futures with delivery date in March strengthened during Friday's trading session by 1% to the closing price of 78.55 cents per pound weight. It was the highest closing price of the futures contract, the most active of cotton from 15May last year.

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