Cotton futures closed the first trading day of the week with 18 to 140 point losses. July was down the most, but did close 71 points above the intraday low. December futures saw a 143 point range on the day before closing 51 points in the red.Â
The weekly Crop Progress report had 45% of the national cotton crop planted as of 5/21. That was a 10% advance through the week and is 5% points behind the average pace.Â
The 5/19 Cotlook A Index was 35 points weaker at 97.50 cents/lb. USDA’s weekly Cotton Market Review showed 38,853 bales were sold this week at an average price of 80.57 cents. The season’s full sales were 672k bales, compared to 1.614 million last year. The AWP for cotton was another 13 points higher to 68.10 cents/lb. Â
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Jul 23 Cotton  closed at 85.32, down 140 points,
Dec 23 Cotton  closed at 83.38, down 51 points,
Mar 24 Cotton  closed at 83.19, down 43 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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