Cotton prices stayed in a 160 point trading range (Dec), and settled the session within 30 points of UNCH. December held on to a 1 point gain, as the back months weakened. Dec futures are at a net 227 point gain for the week after Monday’s bounce.
Daily classings data from USDA had 26,260 bales of upland cotton classed on 9/26.
USDA’s weekly Crop Progress report had 65% of bolls opening as of 9/24, and harvest advanced 4% points for the week to 13% finished. Conditions were reported at 30% G/E – that was up from 29% LW and converts to a 273 on the Brugler500 Index. That was up 2 points from last week.
The Seam reported 4,009 bales were sold online at an average gross price of 79.73 cents/lb. The Cotlook A Index was 45 points weaker to 96.95 cents/lb for 9/22. The AWP for cotton was 72.29 cents. ICE Certified Stocks were 29,701 bales on 9/22.
Dec 23 Cotton closed at 88.18, up 1 points,
Mar 24 Cotton closed at 88.56, down 20 points,
May 24 Cotton closed at 88.85, down 29 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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