So far the midweek cotton market is trading mostly higher, with a mixed board within 40 points of UNCH. The Dec contract has printed a daily trading range of just over a penny so far.Â
NASS reported 10% of the cotton crop has yet to set bolls nationally, matching the 5 year average. The weekly update had 25% of cotton bolls opening as of 8/28. That was up from 18% last week but matches the average pace. National conditions were unchanged on the Brugler500 Index at 271, as TX improved a sharp 18 points offsetting most of the other states’ drops. KS fell by 21 points for the week.Â
The Cotlook A Index was another 25 points higher to 96.10 on 8/25. The Seam reported 3,308 bales were sold on 8/25 for an average gross price of 76.85 cents/lb. The FSA lowered the AWP for cotton by 208 points to 69.06 cents/lb. ICE certified stocks were 347 bales on 8/21.Â
Dec 23 Cotton  closed at 86.9, up 3 points,
Mar 24 Cotton  closed at 86.82, up 9 points,
May 24 Cotton  closed at 86.73, up 9 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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