New Orleans, La., March 18--The cotton market slumped another $2.80 a bale today to where it was almost two cents a pound below the price the government is lending the farmer on his crop.
The loss for eight days totals $8.95 a bale. In a broad sense, this means the value of the 14.363,000 bales of American cotton now on hand has declined $117, 548,500.
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