
So far the cotton market is trading another 50-60 points lower for Wednesday – a net 378 point draw down for the week so far. Cotton ended the Tuesday session just 7 points off their daily lows on triple digit losses. That has left Dec contract with a net monthly drop of 5 ½ cent/lb!
The Cotlook A Index was 65 points stronger to 95 cents/lb on 10/27. The online cotton trading platform, The Seam, reported 1,571 bales were sold on 10/10 for an average gross price of 74.88 cents. The 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 81.22, down 169 points, currently down 63 points
Mar 24 Cotton closed at 83.51, down 137 points, currently down 57 points
May 24 Cotton closed at 84.56, down 126 points, currently down 54 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.