Cotton is trading lower by 48 to 53 points this morning. Front month cotton futures ended Monday with 2% gains in some contracts and at least 1.5% gains in the others. The triple digit strength left December futures 1.6 cents higher at the close.
USDA’s weekly Crop Progress report after the close had 35% of cotton planted as of 5/14. That was a weekly advancement of 13% points, and is 1ppt behind average. Texas was shown at 30% complete, 2% points behind their average, and Georgia was 32% finished, 7% points behind.
The 5/12 Cotlook A Index was down by another 135 points to 91.85 cents. The AWP for cotton was raised 128 points to 67.97 cents.
Jul 23 Cotton closed at 82.37, up 184 points, currently down 51 points
Oct 23 Cotton closed at 81.78, up 163 points, currently down 47 points
Dec 24 Cotton closed at 81.73, up 151 points, currently down 48 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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