Cotton #2 Futures Market News and Commentary
After a wide ranged session, the cotton market closed 1 to 41 points in the black. Futures are still at a loss for the week’s move, with March down by 139 after Monday. March cotton saw a 131 point range on Tuesday.
The last NASS Crop Progress report for this year showed 83% of the US cotton harvest finished by 11/26, running 4% percentage points ahead of the average pace.
The Seam had 1,759 bales sold on 11/27 for an average gross price of 73.37 cents. The Cotlook A Index for November 27 was 10 points higher at 91 cents flat. The AWP for this week is 65.23 cents/lb, up a penny from the week prior.
Dec 23 Cotton closed at 78.6, up 1 point,
Mar 24 Cotton closed at 79.6, up 34 points,
May 24 Cotton closed at 80.24, up 37 pointsOn 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 informatio... Read more
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