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At the same time, the cash market hit its high of the session, 105 24/32.
"They're only in the cash market; we have a lot more to offer."
Farmers sold corn on cash markets for the same reason, he said.
Prices in the cash market for Treasury securities quickly followed.
That's why there is a big premium to the cash market."
"The only way you can nail down volatility is by having some sort of cash market," he said.
The action suggested the owners had found buyers for that cotton on the cash market.
"Today, more than anything, I think the cash markets did a little better than most people had thought," he said.
It also sold 1.5 billion euros on domestic cash markets.
"That would allow the cash market to catch up."
Generally, the futures trade at a slight premium to the cash market.
Most cattle futures moved higher, spurred by strong cash markets.
Losses were limited by slow producer selling and a higher cash market.
The interpretation was shown to be mistaken, he said, when yesterday's cash markets were strong.
Stock index futures have historically sold at a higher price than the cash market.
Activity in the cash market was limited to Europe and Japan.
The selling quickly spilled over into the cash market.
Live cattle futures were mostly lower on weak cash markets.
A large increase in the number of animals being brought to slaughter has severely weakened the cash market.
Utah producers appreciated having such a good cash market for their commodities.
"At the moment, the chartists and technicians are determining where the cash market goes."
Livestock futures advanced as a result of strength in the cash markets.
Strong Treasury bond futures prices further strengthened the cash market.
It is two distinct outright cash market trades, one for forward settlement.
The so-called cash market, where plain stocks are traded, still kept falling.