Cotton Trading Higher at Midday

Despite the broad melt down out of the weekend, cotton futures are firming higher into the midday portion of Monday. July futures are up 37 points and are over a penny off their earlier lows. December was down by over a penny/lb earlier, but is now 26 points in the black.  

NASS Crop Progress data showed that 24% of the cotton crop was planted as of 5/8. That matches the 5-yr average and was up from 16% last week. Cotton planting in TX was 22% completed. 

USDA’s weekly Cotton Market Review noted 9,603 bales were sold at spot at an average 145.01 cents/lb for the week through 5/5. The Cotlook A index from 5/6 was back down by 6 cents to 167.45 cents/lb. USDA’s AWP is 8.5 cents higher at 147.1 cents/lb. 

Jul 22 Cotton  closed at 142.93, down 68 points,

Dec 22 Cotton  closed at 123.63, down 11 points,

Mar 23 Cotton  closed at 118.51, up 17 points