Excerpt from Cotton Situation: May 1969
Spot market prices have remained firm in recent months, after trending downward during the first half of the season. Large trade Stocks earlier in the season and weak demand for cotton contributed to the price decline. Large quan ties of the 1968 cr0p have been placed under loan, and prices steadied as they fell to near loan levels. In recent weeks, prices for most staple lengths have stabilized at 1 to 2 cents above loan rates.
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