Cotton prices were up again on Tuesday after a failed turnaround attempt early in the session. At the close the board was 18 to 65 points higher, which for Dec netted a 5.45 cent gain in the past three sessions.
NASS reported 84% of the national cotton crop had open bolls as of 10/9, which is 3% points ahead of average. Cotton harvest progressed from 22% complete to 29% finished. The average pace would have 1/4 of the crop out. In Texas harvest reached 35% complete, compared to 28% on average. Cotton conditions worsened 1 point on the Brugler500 Index to 273.
The 10/7 Cotlook A index was 40 cents weaker to 101.30 cents/lb. USDA’s updated AWP for cotton is 77.19 cents/lb, down from 82.42 cents. ICE certified stocks were at 2,109 bales for 10/10.
Dec 22 Cotton closed at 88.86, up 63 points,
Mar 23 Cotton closed at 87.31, up 65 points,
May 23 Cotton closed at 85.82, up 31 points
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
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