Cotton #2 Futures Market News and Commentary
Cotton is off to a 26 to 63 point higher start this morning. Cotton prices ended Tuesday with 1.3% to 1.8% gains led by the thinly traded October contract. For March that was a 112 point gain on a Turnaround Tuesday. The FOMC will announce their interest rate decision this afternoon, with most analysts expecting either a 25 or 50 basis point increase.
USDA researchers in Mississippi have developed 4 cotton varieties that are flame retardant and self extinguishing. That could potentially eliminate additions of retardant chemicals to various textile lines.
The Cotlook A Index was 40 points weaker for 1/30 to 102 cents. The AWP for cotton is 75.05 cents per pound.
Mar 23 Cotton closed at 86.22, up 112 points, currently up 63 points
May 23 Cotton closed at 86.95, up 121 points, currently up 58 points
Jul 23 Cotton closed at 87.46, up 127 points, currently up 48 pointsOn the date of publication, Alan Brugler did not have (either directly or indi... Read more