So far for Thursday cotton prices are another 100 to 123 points weaker. The Wednesday cotton market pulled back with 66 to 200 point losses. That dropped the Dec contract to a 295 point loss for the week’s move.
Census export data showed 981,064 bales were shipped during the month of July. That finished the 2022/23 season with 13.056m bales of exports – a little stronger than the WASDE estimated total of 12.8m bales.
The 9/5 Cotlook A Index remained UNCH at 100.1 cents/lb. The Seam reported 2,041 bales were sold on 9/05 for an average gross price of 77.87 cents. The AWP for cotton is 71.56 cents. ICE Certified Stocks were 352 bales on 8/31.
Dec 23 Cotton closed at 87, down 176 points, currently down 123 points
Mar 24 Cotton closed at 87.1, down 159 points, currently down 120 points
May 24 Cotton closed at 87.22, down 138 points, currently down 104 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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