Wednesday cotton prices are trading with triple digit gains to follow the Tuesday trade. Cotton trade bounced back Monday’s weakness with 285 to 346 point Turnaround Tuesday gains. New crop Dec rallied 184 points on the day, and was 984 points under the spot Dec contract. The US dollar index was weaker again, with futures the lowest since August 15 before rebounding.
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 closed at 88.74, up 346 points, currently up 173 points
Mar 23 Cotton closed at 86.97, up 335 points, currently up 137 points
May 23 Cotton closed at 85.84, up 334 points, currently up 139 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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