Cotton Leaking Lower

The cotton market is down 11 to 28 points in early Tuesday trade. Cotton saw a bit of a dead cat bounce on Monday, as contracts were up 29 to 140 points after reaching new multi-month lows last week. 

The US cotton crop was 11% planted as of April 21 according to the NASS Crop Progress report. That matches both the 5-year average and last year’s pace. 

ICE certified cotton stocks were up another 527 bales on April 19 at 176,610 bales. The Cotlook A Index was down another 80 points to 86.55 cents/lb on April 19. The AWP dropped another 325 points to 62.18 yesterday and is good through this Thursday.

May 24 Cotton  closed at 80.04, up 135 points, currently down 23 points

Jul 24 Cotton  closed at 82.42, up 140 points, currently down 28 points

Dec 24 Cotton  closed at 78.49, up 94 points, currently down 15 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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