Morning cotton futures are trading 20 to 26 points lower so far following the Monday drop. Cotton ended Monday near the lows, with triple digit losses. Dec contracts printed a 246 point range on the day, but were down 147 points from Friday to Monday. Dec ’24 was down by 36 points to start the week, reducing the Dec/Dec spread to 232 points.
Weekly NASS data showed 49% of the cotton crop had been harvested as of 10/29. That is up from 41% last week and is 2ppts ahead of the average pace. Cotton conditions improved by 2 points during the week for a final Brugler500 rating of 269. That’s down from 341 at the start, and compares to last year’s 327 initial and 268 final Brugler500 ratings.
The Cotlook A Index was 65 points stronger to 95 cents/lb on 10/27. The updated AWP for cotton is 68.72 cents/lb, through Thursday. ICE certified stocks were 73,978 bales on 10/27.
Dec 23 Cotton closed at 82.91, down 147 points, currently down 22 points
Mar 24 Cotton closed at 84.88, down 125 points, currently down 21 points
May 24 Cotton closed at 85.82, down 116 points, currently down 22 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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