NY cotton futures had a mixed performance this week
22 Dec '06
2 min read
The first one is to buy it at the prevailing AWP, which currently puts the price for a SM 1.1/8 at somewhere around 65-66 cents CIF Far East, a level most mills are not yet prepared to pay.
The second path to acquire loan cotton is to wait for the 9-months term to expire, at which time any forfeited cotton will be auctioned off by the CCC (Commodity Credit Corporation). However, at the earliest these catalogue auctions will take place sometime late in the third quarter.
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