Cotton Rallies back on Turnaround Tuesday
Front month cotton futures were 47 to 100 points higher for a turnaround Tuesday close. March led the way, and is now at a penny premium to the soon to expire Dec contract. The Dollar Index rallied another 0.34% on Tuesday.
The Cotlook A Index backed off by 50 points back to 89.80 cents/lb. The AWP was 105 points lower to 64.18 cents/lb. ICE decertified nearly 30k bales for a 58,324 certified stock as of 12/1.
Mar 24 Cotton closed at 79.68, up 100 points,
May 24 Cotton closed at 80.27, up 85 points,
Jul 24 Cotton closed at 80.73, up 65 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.
