Cotton - kolya-korzh-zrVY4blkWI4-unsplash
So far the morning trade has cotton prices working 50 to 100 points in the red. The rally faded momentum on Tuesday with a tighter range on a mixed mostly lower close. Dec futures ended the day with another 19 point gain and stayed in just over a 3c range. The other front months closed with 9 to 28 point losses. The US dollar index was down 0.45% on the day.
The Cotlook A Index for 11/7 was 400 points stronger to 104.1 cents. USDA’s AWP for cotton is 65.46 cents for the week.
Dec 22 Cotton closed at 87.68, up 19 points, currently down 58 points
Mar 23 Cotton closed at 85.74, down 9 points, currently down 50 points
May 23 Cotton closed at 84.84, down 23 points, currently down 68 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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