Cotton futures saw 19 to 30 point gains on Tuesday, marginally extending the bounce from Monday. Limits are now expanded to 4 cents as futures are now back above the 80 cent mark. The US CPI inflation report showed February CPI up 6%, in line with expectations. Core inflation was up 5.5%. The US dollar index was slightly higher at the close. Â
The Seam reported 1,775 bales sold on March 13th at an average price of 74.53 cents/lb, up 3 points from the previous day. The Cotlook A Index was down another 400 points to 92.55 cents for 3/13. The USDA’s FSA reduced the AWP for cotton by 78 points to 71.95 cents. It will be updated on Thursday.
May 23 Cotton  closed at 81.37, up 19 points,
Jul 23 Cotton  closed at 81.93, up 28 points,
Oct 23 Cotton  closed at 82.34, up 30 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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