Cotton futures are up by 18 to 25 points so far across the front months. Overnight action had the May contract up by as much as 40 points. Front month cotton futures closed the first trade day of April with 19 to 50 point losses. For May that came after a 176 point range from -122 to +54. December futures ended the day 123 points off their daily high and 47 points above their session low.Â
National cotton planting was marked at 4% complete in NASS’s Crop Progress report. TX was 7% planted as of 4/2, compared to 8% on average. Arizona was reported at 7% planted compared to their 5-yr average of 21%.Â
The monthly Cotton Systems data from NASS had 697 RBs consumed in February. That was the month’s lowest consumption on record since 2015 and was the 5th lowest for any month (discounting confidential data flags in 2020). Stocks were 4.1% tighter from Jan to 3,257 RBs.Â
The Cotlook A Index was up by 85 points to 97.55 cents on 3/31. The AWP for cotton is 67.84 cents/lb.Â
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May 23 Cotton  closed at 82.38, down 40 points, currently up 22 points
Jul 23 Cotton  closed at 82.64, down 46 points, currently up 24 points
Dec 23 Cotton  closed at 82.92, down 50 points, currently up 18 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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