Cotton futures are down 206 to 257 points through midday of the week’s first trading day. December has already printed a 307 point range for the day from +20 to -287 points. New crop Dec contracts remain an 8.18 cent discount to the old crop Dec. Stock market futures are higher, with the S&P flirting with t he 4000 level. President Biden and China’s President Xi met ahead of the G-20 conference to attempt to normalize relations between the two countries.
The 11/11 Cotlook A Index was steady at 103.55 cents. USDA’s weekly Cotton Market Review had 6,574 bales sold for an average price of 86.56 cents. The AWP for the week is 76.74 cents/lb. ICE certified stocks were 880 bales on 11/9.
Dec 22 Cotton is at 85.95, down 225 points,
Mar 23 Cotton is at 84.25, down 208 points,
May 23 Cotton is at 83.31, down 225 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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