Cotton Fading into Tuesday

Cotton prices are down by triple digits in old crop early on Tuesday.  The May cotton futures shed 163 points off their early 226 point gain, though the nearby contracts were still 1 to 67 points higher at the Monday close. 

The Cotlook A Index for was down by 135 points to 98.45 on 3/15. USDA’s weekly Cotton Market Review showed 11,320 bales were sold at an average price of 89.25 cents/lb. The updated AWP is 76.10 cents/lb for the week through Thursday. ICE certified stocks added another 1,100 bales to 27,765 as of 3/13. 

 

May 24 Cotton  closed at 94.57, up 63 points, currently down 107 points 

Jul 24 Cotton  closed at 94.26, up 67 points, currently down 90 points

Dec 24 Cotton  closed at 83.81, up 13 points, currently down 41 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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