Cotton is showing 18 to 47 point lower action following the overnight trade. Futures closed out Tuesday with contracts down 36 to 63 points across most front months. The outside markets had little influence, with crude oil down just 2 cents/barrel and the dollar index 17 points higher.
Faster than normal harvest pace (currently 6% above normal), lack of many harvest disruptions, and a clear weather outlook have put some increased harvest pressure on the US market.
The Seam had sales of 5,047 cash bales traded on November 20 at an average price of 72.70 cents/lb, down 3.95 cents vs. the previous day.Â
The Cotlook A Index was up 50 points on November 20 at 91.40 cents/lb. The AWP for this week is 64.23 cents/lb and will be adjusted by FSA later this week. ICE certified stocks for 11/20 were 87.745 bales.Â
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Dec 23 Cotton  closed at 77.34, down 63 points, currently up  9 points
Mar 24 Cotton  closed at 80.69, down 56 points, currently down 14 points
May 24 Cotton  closed at 81.43, down 53 points, currently down 26 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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