In the modern era, the high was 68.3% in 10/11, and the low was 48% in 02/03, 06/07 and 07/08. Varner View The best news of the year, and the worst market performance of the year. This reversal of sorts comes as rumors keep popping up, that some of the cotton China has bought in recent weeks is merchant-to-merchant, and for spec purposes only. No way to know if that is true, but todays action certainly has to be ugly after some magnificent sales. The last time sales were this good was Jan 2015. The month of March has quite a history with major events, most of those being highs. Table below shows each event since 1995, and the count is 7 major market highs in 22 years. There were 3 intermediate highs, 4 minor highs, and 3 lows of importance. The markets flirt and reverse with 80c will be taken out if sales keep up.
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