
Futures are near the upper end of the overnight range, but still down 2 to 17 points across the board. The front month cotton futures market closed Thursday’s session 3 to 28 points in the red. July futures printed a 154 point range on the day. December traded from -120 to -5 points and left an overnight gap.
Weekly USDA data showed that 132,443 RBs of export cotton was booked during the week that ended 5/11. That was down from 247k RBs last week but was up 20% from the same week last year. Cotton shipments came in at 332,691 RBs, for a full year total of 8.9 million.
The Seam reported 8,216 bales were sold on 5/16 for an average gross price of 71.68 cents. The Cotlook A Index for 5/16 was 170 points higher at 94.15 cents per pound. The AWP for cotton was another 13 points higher to 68.10 cents/lb.
Jul 23 Cotton closed at 86.66, down 28 points, currently down 2 points
Dec 23 Cotton closed at 83.72, down 17 points, currently down 8 points
Mar 24 Cotton closed at 83.44, down 17 points currently down 14 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.