The front month cotton market is rallying triple digits with March futures at a 3c gain so far. The other nearbys are up by 1.72 cents to 2.9 cents/lb for midday. Â
The weekly Export Sales data showed 116,429 RBs of cotton was sold during the week that ended 11/30. That was 47% lighter than the volume last week, as China led the purchases with 59k RBs. Cotton commitments were listed at 7.918m RBs compared to 8.73 million last year.Â
The Census confirmed cotton exports were 390,390 bales for October. That was a 41% drop from the Sep shipment and was 30% lighter than Oct ’22. The season’s sum reached 2.08m bales through the first three months, compared to 2.54m bales during last year.Â
The Seam recorded 10,525 bales for the 12/05 sale, with the average gross price listed at 73.18 cents/lb. The Cotlook A Index backed off by 50 points back to 89.80 cents/lb. The AWP was 64.18 cents/lb. It will be updated Thursday after the close by USDA. ICE stocks were shown at 6,186 bales for 12/5.Â
Mar 24 Cotton  is at 82.75, up 300 points,
May 24 Cotton  is at 83.37, up 292 points,
Jul 24 Cotton  is at 83.48, up 255 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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