The front month cotton futures market is working 29 to 93 points in the red at midday. July is again feeling the most pressure as the contract works on the 11th red candle from the last 15 sessions.
USDA’s weekly Crop Progress report showed cotton was 89% planted as of 6/18. That was up 7% points from last week but 5 ppts behind the average pace. NASS reported that 3% of the national crop was setting bolls compared to 4% on average. Cotton conditions were converted to a 326 on the Brugler500 Index, down by 15 points from last week.
The Cotlook A Index was steady at 91.65 cents for 6/20. The AWP for cotton is 67 cents flat. ICE Certified stocks were 20,267 bales on 6/16.
Jul 23 Cotton is at 79.87, down 79 points,
Dec 23 Cotton is at 80.37, down 33 points,
Mar 24 Cotton is at 80.51, down 28 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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