July cotton saw a sharp 150 point rally in 10 minutes at 10 AM after bleeding lower again overnight. The board faded it, but July cotton made another late session move higher to close just 2 points in the red after a wide 200 point intraday range. The other nearby contracts also finished off their session lows but were still 37 to 46 points weaker on the day.Â
The Dollar Index firmed up on Thursday after seeing the lowest levels since May 11th. The daily bounce gained steam around 9:30 AM central.Â
The Cotlook A Index for 6/21 was 50 points higher to 92.15 cents/lb. The online cotton trading platform The Seam reported 4,688 bales sold on 6/20 for an average gross price of 68.44 cents. The AWP for cotton was 67 cents flat. ICE Certified stocks were 20,267 bales on 6/16.
Jul 23 Cotton  closed at 79.29, down 2 points,
Dec 23 Cotton  closed at 80.15, down 37 points,
Mar 24 Cotton  closed at 80.29, down 41 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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