Morning cotton futures are back in the black following two major moves in opposite directions. Yesterday, the cotton market responded to Tuesday limit up gains with an almost expanded limit drop. Dec had hit their 5c limit loss but settled 3 points off of it to revert to a normal 4c limit trade for today. Net net, the board is 211 points weaker for the week through Wednesday.
The 22/23 season began with August cotton shipments of 1.23m bales according Census data. That was the 4th largest start to exports on record.Â
Cotton sales confirmed by The Seam were 1,761 bales on 10/4 for an average gross price of 89.55 cents. The Cotlook A Index firmed 20 points higher for 10/3 to 104 cents/lb. USDA’s AWP for cotton is 82.42 cents. ICE certified stocks were at 2,109 bales.Â
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Dec 22 Cotton  closed at 83.23, down 497 points, currently up 15 points
Mar 23 Cotton  closed at 81.74, down 445 points, currently up 6 points
May 23 Cotton  closed at 80.62, down 416 points, currently up 3 points
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