A wide ranged session from +133 points to -168 points ultimately settled with Dec cotton 11 points in the red at 72 c/lb flat. The other front months traded similarly, but closed weaker with losses of 24 to 45 points.
USDA’s weekly Crop Progress report showed 96% of cotton bolls were open as of 10/31. Nationally, 55% of the crop was out. That was a 10% point advancement through the week and remains 8% points ahead of the average pace.
The weekly Cotlook A Index was 275 points lower to 92.5 cents. USDA’s weekly Cotton Market Review showed 1,734 bales were sold at spot this week for an average cash price of 78.17 cents/lb. USDA’s AWP was 4.81 cents weaker to 68.95 cents/lb for the week.
Dec 22 Cotton closed at 72, down 11 points,
Mar 23 Cotton closed at 71.64, down 43 points,
May 23 Cotton closed at 71.85, down 45 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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