The Dec cotton contract closed 26 points off the low on a triple digit Tuesday drop. The session range was 218 points on the day. Carry to March widened by 30 points to 220 points.
On Monday afternoon, NASS showed 87% of the US cotton acreage had cotton bolls open, 1ppt behind the average pace. Harvest had advanced 8% points for the week to 33% complete. The average pace would be 32% finished. Conditions fell 6 points to 269 on the Brugler500 Index. Arkansas, AZ, and AL as well as SC were improved for the week, though MS, TN, TX, and VA were weaker for the week.
The Cotlook A Index was steady at 95.25 cents/lb on 10/13. USDA’s AWP for cotton is 71.06 on Thursday. Certified stocks were 53,400 bales on 10/16, up by 3k.
Dec 23 Cotton closed at 83.23, down 192 points,
Mar 24 Cotton closed at 85.43, down 162 points,
May 24 Cotton closed at 86.79, down 147 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.
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