Cotton Bulls Fight Back on Tuesday
Cotton futures posted gains of 38 to 73 points in most contracts on Tuesday. The US dollar index was up $0.023 at $99.170. Crude Oil was $1.23 higher to $93.39
The weekly NASS Crop Progress report showed 66% of the US cotton crop planted as of 5/31, 1% below normal. The crop was also 7% squared, matching the average pace.
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The Seam reported sales on 882 bales on Monday at an average of 75.79 cents/lb. The Cotlook A Index was up 60 points on 6/1 at 86.25 cents. ICE certified cotton stocks were up 4,998 on June 1 with the certified stocks level at 242,911 bales. The Adjusted World Price was down another 519 points last week at 63.49 cents/lb.
Jul 26 Cotton closed at 77.04, up 40 points,
Dec 26 Cotton closed at 80.54, up 38 points,
Mar 27 Cotton closed at 81.72, up 40 points
On the date of publication, Austin Schroeder 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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