Cotton #2 Futures Market News and Commentary
The front month futures are adding to yesterday’s triple digit gain with 17 to 38 point advances at midday. Cotton futures closed the first trade day of the week up by 202 to 210 points. USDA’s Crop Progress report showed cotton was 7% planted in the 15 tracked states, compared to 5% from the same week last year. Texas (the largest production state) cotton progressed from 5% planted to 12% on April 05. The Cotlook A index was up a penny to 61.75 c/lb on April 6. The AWP for cotton is 42.63 cents/lb. through Thursday. The LDP is 9.37 cents/lb.
May 20 Cotton is at 53.22, up 17 points,
Jul 20 Cotton is at 53.25, up 17 points
Oct 20 Cotton is at 54.46, up 38 points
Dec 20 Cotton is at 54.44, up 32 points
--- provided by Brugler Marketing & Management