So far, cotton is trading 7 to 62 points in the red across the front months after a tight and indecisive overnight. Front month cotton futures extended the sell off into Wednesday, but firmed up from the daily lows. New crop prices were down 11 to 15 points on the day, while the nearby contracts closed 71 to 98 points weaker.Â
Zhengzhou Cotton Prices in China remain steadily higher after the ~37% drop from May through November. On Wednesday March contracts closed at 14,340 yuan/MT (~ 93.20 cents/lb).
China’s National Bureau of Statistics has 2022 cotton output at 5.98 MMT (27.47m bales), a 4.3% increase yr/yr on higher yields. USDA’s official estimate is 28m bales – a 4.48% increase yr/yr.Â
The Cotlook A index for 12/23 was 4 cents lower to 101.55 cents. The AWP for cotton is 75.57 cents/lb. ICE Certified Stocks were 8,901 bales on 12/27.Â
Mar 23 Cotton  closed at 83.26, down 98 points, currently down 13 points
May 23 Cotton  closed at 83.3, down 83 points, currently down 24 points
Jul 23 Cotton  closed at 83.2, down 71 points, currently down 47 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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