Front month cotton prices were up 106 to 155 points on the day led by the July contract. July futures now hold a 28 point carry from the spot May. Dec is still a 34 point discount.Â
China imported 70k MT of cotton in March, a 64.8% drop from March ’22. Their full year import is 300k MT for 2023, up by 52% yr/yr.Â
NASS reported 8% of the 23/24 cotton crop was planted as of 4/16. That was a 2% point advancement through the week and compares to the 9% average pace.Â
The Cotlook A Index for 4/17 was 45 points weaker to 96.40 cents/lb. The AWP for cotton is 70.05 cents/lb. ICE certified stocks were 1,485 bales as of 4/14.Â
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May 23 Cotton  closed at 84.55, up 125 points,
Jul 23 Cotton  closed at 84.83, up 155 points,
Dec 23 Cotton  closed at 84.21, up 133 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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