Tuesday’s cotton trading left a wide range for the day, which for March amounted to 4.77 cents! Prior to the pullback March set a new contract high of $1.2933/lb, but the contract ultimately closed 24 points in the red. The other old crop contracts were also at new contract highs and also faded back on a wide ranged day, but May and July each went home 82 to 91 points higher. New crop futures ended the day with triple digit gains and closed near their new contract highs.
The Seam reported 37,418 bales were sold on 1/31 for an average 117.22 cents/lb. USDA’s 2/1 DSQ reported 37,643 bales were sold at spot, with a MY total of 1.274 million. The Cotlook A index was back up by 185 points on 1/31 to 137.70 cents. The AWP for cotton is 112.43 cents/lb for the week through Thursday.
Mar 22 Cotton closed at 127.33, down 24 points,
May 22 Cotton closed at 123.89, up 82 points,
Dec 22 Cotton closed at 102.43, up 156 points
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