Cotton #2 Futures Market News and Commentary
July cotton futures closed 362 points higher on Wednesday. That was still 2 cents off the days’ high, but extended the premium to new crop December to 20.55 cents/lb. Mills continue to try to work their way out of large On Call positions.The new crop futures ended the day 45 to 83 points higher.
The Cotlook A index was $1.61 flat on 5/24, up by 40 points. USDA’s cotton AWP is 143.24 cents/lb for the week through Thursday.
Jul 22 Cotton closed at 145.16, up 362 points,
Dec 22 Cotton closed at 124.61, up 83 points,
Mar 23 Cotton closed at 119.95, up 45 points