Front month cotton prices are trading with AM gains of another 37 to 60 points. Nearby cotton prices closed with 50 to 118 point gains across the front months, which left the March contract at a net weekly 117 point gain. The Dollar index closed off the daily high on Thursday for a net 0.05% loss.
USDA’s FAS reported 262,478 RBs of cotton was booked during the week that ended 1/4. That was more than double the week prior and compares to the 5-wk average of 164k RBs. USDA had China and Vietnam each booking >100k RBs.
The Cotlook A Index was 25 points stronger on 1/9 to 90.65 cents/lb. The Seam had 4,046 bales sold online for an average gross price of 72.15 cents/lb for 1/8. The AWP was up by another 80 points to 64.96 cents/lb., effective through next Thursday.
Mar 24 Cotton closed at 81.36, up 118 points, currently up 51 points
May 24 Cotton closed at 82.33, up 100 points, currently up 40 points
Jul 24 Cotton closed at 82.94, up 81 points, currently up 37 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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