Cotton Correction Continues

Midday trading on the last Friday of February has the cotton futures board 57 to 68 points lower. March contracts are UNCH on limited OI. New crop futures are down 23 points so far, extending the sharp loss from Thursday. USDA’s Daily Spot Quotations report showed 3,541 bales sold via the 2/25 report. The Cotlook A index for 2/25 was 98.5 cents/lb, up another 98 points. The new USDA AWP for cotton is 75.76, up from 73.13 cents/lb last week.

Mar 21 Cotton is at 88.24, unch
May 21 Cotton is at 89.16, down 53 points
Jul 21 Cotton is at 89.96, down 41 points
Dec 21 Cotton is at 84.55, down 23 points

--- provided by Brugler Marketing & Management

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