Cotton prices are working double digits weaker so far for Wednesday. Turnaround Tuesday action pushed cotton futures back up by 78 to 234 points. December printed a wide 304 point range on the day, from -8 points to +296.Â
The US dollar index dropped to the lowest reading since October 5 after TV commentator Jim Cramer touted topping action on the charts. Stock market futures were higher, also taking just a little of the gloom and doom out of the cotton demand estimates.
The Cotlook A index was 175 points stronger on 10/24 to 96.75 cents/lb. USDA’s AWP for cotton is 73.76 cents/lb. ICE certified stocks from 10/20 were 880 bales.Â
Dec 22 Cotton  closed at 78.47, up 234 points, currently down 22 points
Mar 23 Cotton  closed at 77.94, up 220 points, currently down 25 points
May 23 Cotton  closed at 77.16, up 161 points, currently down 15 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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