Cotton Falls to Start the Week
Cotton futures posted Monday losses of 157 to 180 points, weakness crept back into the market. Crude oil futures were up 6 cents/barrel. The US dollar index continues to fall, closing down $0.452 at $99.440.
Weekly Crop Progress data showed the US cotton crop at 5% planted, which is behind the 3% average pace at 8%.
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The Seam reported just 31 cash bales sold on 4/11, at an average price of 56 cents/lb. The Cotlook A Index was down 25 points on Friday at 78.30 cents/lb. ICE cotton stocks were down 10 bales on decertification on April 11 to a certified stocks level of 14,478 bales. USDA’s Adjusted World Price (AWP) was back down 212 points last week to 53.10 cents/lb.
May 25 Cotton closed at 64.09, down 180 points,
Jul 25 Cotton closed at 65.35, down 166 points,
Dec 25 Cotton closed at 66.94, down 157 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.
