Triple Digit Rally in Cotton Futures
Midday cotton prices are trading with gains of as much as 366 points so far. That has the board back up from the wea start to the week.
USDA’s weekly Crop Progress report showed cotton harvest progressed 9% points to 71% complete as of 11/13. That remains 8% points ahead of the average pace with Louisiana now finished and AR and MS each +97% done.
The 11/14 Cotlook A Index was 175 points higher to 105.30 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 11/11.
Dec 22 Cotton is at 88.68, up 340 points,
Mar 23 Cotton is at 86.98, up 336 points,
May 23 Cotton is at 85.84, up 334 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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