Cotton Neutral into Day Session

Cotton - kelly-sikkema-8A7qKkvm_ew-unsplash

After overnight gains of as much as +132 points, and weakness down to -37 points, the cotton market is trading back to withing 10 points of UNCH across the front months. Cotton marched lower on Wednesday but closed ~40 points off the daily low with triple digit old crop losses. New crop futures were down by 17 to 20 points. 

The Cotlook A Index was 5 points weaker to 98.40 cents/lb. USDA’s weekly Cotton Market Review showed 11,320 bales were sold at an average price of 89.25 cents/lb. The AWP is 76.10 cents/lb for the week through this afternoon, when it will be updated. ICE certified stocks added another 1,100 bales to reach 27,765 as of 3/13. 

 

May 24 Cotton  closed at 92.18, down 116 points, currently down 6 points

Jul 24 Cotton  closed at 92.12, down 100 points, currently up 5 points

Dec 24 Cotton  closed at 83.8, down 20 points currently up 3 points 

 


On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.