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Cotton Prices Lower Again


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Cotton Futures--- Cotton futures in the December contract is trading lower for the 2nd consecutive session down another 55 points at 67.20 as I was recommending a bullish position from around the 69.55 level getting stopped out after the USDA crop report around 68.50 taking a relatively small loss as prices continue to head lower.

The problem with cotton at the present time is ideal weather conditions are persistent in key cotton growing regions in the southern part of the U.S as 12 million acres also is too much as there don't look to be any weather problems ahead as prices look to retest the contract low around 66.00 in the coming weeks.

At the present time I'm not involved in this market as the chart structure is very poor as this had a bullish trend until that report was released sending prices limit down 300 points as that is why you must have an exit strategy as prices are much lower from the exit point.

Cotton prices are trading under their 20 and 100 day moving average as the grain market is now following cotton to the downside as everything looks very weak as I now have no soft commodity recommendations as they all faded lower after that very negative crop report.TREND: LOWER –CHART STRUCTURE: POOR

If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-312-224-8140 I will be more than happy to help you with your trading or visit www.seeryfutures.com

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About the author


Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
 
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
 
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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