Cotton Closes Spread on Monday
Nearby cotton faded with 7 to 18 point losses on Monday, while the 21 to 34 point gains for new crop. The Mar-Dec spread tightened to 491 points at the close.
The Cotlook A Index for 2/2 was 115 points higher at 95.25 cents. USDA’s weekly Cotton Market Review had 30,988 bales sold for the week with an average price of 81.35 cents/lb. The AWP is 67.64 cents. ICE certified stocks were only 999 bales as of 1/26, with the March contract delivery period just a few weeks away.
Mar 24 Cotton closed at 87.04, down 7 points,
May 24 Cotton closed at 88.03, down 12 points,
Jul 24 Cotton closed at 88.52, down 18 points
On the date of publication, Alan Brugler 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.
