Cotton Futures Back Off After Hitting Highest Price in More Than a Decade

Cotton futures are 30 to 72 points lower heading further into the Thursday session. At the close yesterday, front month cotton was 265 to 287 points in the black. The March contract faded nearly a penny from their fresh LOC high, which is now 124.78 c/lb. That exceeded the November peak for nearby futures and is now the highest front month futures price since July 2011.

The Seam reported 27,325 bales were sold on 1/18 for an average gross price of 112.44 cents. USDA’s 1/19 DSQ reported 29,590 bales of upland cotton and another 199 bales of pima were sold at spot. The Cotlook A index for 1/18 stayed UNCH at 133.10 cents/lb.  was another 265 points stronger to 133.10 c/lb. The current effective AWP for cotton is 105.58 cents/lb.  

Mar 22 Cotton  closed at 123.95, up 287 points, down 72 this morning

May 22 Cotton  closed at 120.45, up 274 points, down 56 this morning

Dec 22 Cotton  closed at 99.18, up 134 points, down 30 this morning