Cotton closed the Friday session with 201 to 274 point gains. For May contracts that led to a 340 point gain for the week.
USDA’s weekly Classings data showed 34,142 bales were classed as upland cotton this week, bringing the season’s total to 13.604 million. Adding pima, USDA has the total classings for the season at 14.042m bales.
Weekly FAS data showed 425,322 RBs of cotton was sold for export during the week that ended 2/16. That was the most sold for a week since September of 2021 – led by sales to Vietnam and Pakistan. USDA reported 193,571 RBs of cotton was exported, bringing the total shipment for the season to 5.179 million. Adding the 5.18m RBs of unshipped sales had total commitments 18% behind last year's pace.
USDA’s weekly Cotton Market Review showed 12,506 bales were sold at spot for the week, and the average price was 79.73 cents/lb. The Cotlook A index was 25 points stronger on 2/23 to 97.10 cents/lb. The AWP for cotton was 327 points lower to 70.78 cents/lb.
Mar 23 Cotton closed at 85.13, up 272 points,
May 23 Cotton closed at 84.9, up 274 points,
Jul 23 Cotton closed at 85.08, up 245 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. For more information please view the Barchart Disclosure Policy here.
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