Cotton Market Shifts as Mills Cut Prices Prompt Decline
New York March 7 The cotton market opened steady then fell with a 6 to 8 point net decline as Providence mills cut prices on short staple. Trade estimated 250000 bales. May at 10.87, July 10.93, amid selling pressure and long exchanges. Dry goods market and Liverpool futures shown, with receipts table for ports and bonds mixed.
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STOCKS AND BONDS REPORTS FROM MARKET DAY
New prices show higher prices for cotton and stocks with gains in morning trading. Traders noted Wall Street activities and widespread selling pressure, while cotton dampened by mils across New Orleans and Liverpool reports.
Wheat falls on liquidation amid south west weather
Chicago March 7 wheat future May delivery fell almost 2c as liquidation and short selling dominated trading. Weather in the southwest and weak Liverpool response pressured prices, with May closing near day’s lows after a morning steady phase. Corn, oats and provisions followed a weaker trend, with May futures in corn and oats easing and hogs and lard sliding modestly.
MENTIONED IN THIS ARTICLE
Chicago
Weather Bureau
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Douth
May Park
TM Ram
Market mood and mixed signals limit cotton price movement
A fragile cotton market shows limited demand and narrow price ranges. Traders speculate on potential advances if buying resumes, while Liverpool sales and dry goods reports weigh on sentiment, with large mills delaying delivery and reducing near term upside.
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