Front month cotton futures are trading 14 to 22 points in the red at midday, though Dec is 35 points off the session low, and Mar is 40 points off the low for the day. A sharp decline in the US dollar helped encourage the commodity bulls on Tuesday, the Dollar Index is currently firming back up on Wednesday.Â
Monday night’s USDA weekly Crop Progress report showed cotton harvest was 67% complete as of 11/12. That was 10% further along than last week, and compares to 63% on average. Harvest in TX was 56% complete with Georgia at 63%.Â
The Cotlook A Index for 11/14 was steady at 89.30 cents/lb. The Seam reported 4,200 bales were sold for an average gross price of 74.74 cents. The new AWP for cotton is 64.62 cents/lb, down by 3.49 cents from last week. ICE Certified Stocks were 83,652 bales on 11/8.Â
Dec 23 Cotton  is at 78.56, down 12 points,
Mar 24 Cotton  is at 81.17, up 2 points,
May 24 Cotton  is at 81.87, down 1 point
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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