Cotton #2 Futures Market News and Commentary
Cotton futures saw weakness in the front months on Tuesday, with contracts down 21 to 219 points. Deferred contracts were up 22 to 107 points on the day.
The weekly Crop Progress report tallied planting progress in TX a little slower at 30% complete, lagging the 33% normal pace. GA is also 3% behind normal at 39% planted.
The Cotlook A index was down 25 points at 163.95 on 5/16. USDA’s updated AWP for cotton was 140.82 cents/lb, down by 628 points from last week.
Jul 22 Cotton closed at 148.46, down 219 points,
Oct 22 Cotton closed at 139.01, down 60 points,
Mar 23 Cotton closed at 126.79, down 46 points