March futures stayed 19 points higher through the Thursday session as the market worked through the first few days of deliveries. The other old crop prices gave back more than 2 cents, with new crop closing 121 to 158 points in the red.
The USDA’s Ag Outlook Forum set the preliminary cotton acreage total at 12.7 million planted acres.
The Seam reported online cotton sales of 4,482 bales at an average gross price of 115.10 cents/lb on Wednesday. USDA’s 2/23 DSQ reported 8,066 bales were sold at spot. The Cotlook A index was down by 70 points to 136.50 cents/lb on 2/23. USDA reduced the Adjusted World Price for cotton another 88 points to 113.74 cents/lb.
Mar 22 Cotton closed at 122.59, up 19 points,
May 22 Cotton closed at 119.16, down 214 points,
Dec 22 Cotton closed at 101.27, down 121 points
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