Cotton #2 Futures Market News and Commentary
Old crop cotton futures are trading 43 points in the black. New crop prices on the other hand are 2 to 10 points in the red reflecting the rain forecasts for the southern US.
The online cotton trading platform The Seam noted 37 bales were sold on 6/14 for an average gross price of 70.07 cents. USDA’s 6/15 Daily Spot Quotations report showed just 7 bales were sold. The Cotlook A index for June 15 was 135 points lower to 94.85 c/lb. The Adjusted World Price for cotton is 72.36 cents/lb through Thursday.
Jul 21 Cotton is at 85.71, up 43 points,
Dec 21 Cotton is at 86.7, down 10 points,
Mar 22 Cotton is at 86.57, down 2 points