Cotton futures are back in the red into the day session of Thursday. Nearby cotton futures bounced back by triple digits on Wednesday, ending the session without limit gains but still 307 to 371 points in the black. December is still 22.67 cents below the August high.Â
The Federal Reserve increased the Fed Funds Rate by 0.75% with a target of 3.25-3.5% following the Sep FOMC meeting. The move was widely anticipated, but still moved the Dollar Index 1% higher to new highs. Stock market futures did not take it well, closing on the low of the day.
The Cotlook A Index fell a sharp 715 points to 114.60 cents/lb on 9/20. ICE maintained 4,552 certified stocks for 9/14. USDA’s AWP for cotton through today is 95.17 cents.Â
Dec 22 Cotton  closed at 96.92, up 359 points, currently down 93 points
Mar 23 Cotton  closed at 94.06, up 361 points, currently down 98 points
May 23 Cotton  closed at 91.84, up 326 points, currently down 86 points
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