Cotton Holding Firm at Midday
Cotton futures attempted to rally out of the weekend early on Monday, though futures have backed off from their 226 point gains. Current prices are still up by 14 to 58 points at midday.
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 is at 94.61, up 67 points,
Jul 24 Cotton is at 94.25, up 66 points,
Dec 24 Cotton is at 83.81, up 13 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.
