Mixed Midday in Cotton Market
Thursday cotton trading has the board within 30 points of UNCH for midday. May futures have printed a 169 point range so far from -37 to +132 points.
Export Sales data from the week that ended 3/14 showed 92,620 RBs of old crop cotton and 40.5k RBs of new crop was sold during the week that ended 3/14. That brought old crop commitments to 10.71m RBs, a 4% lag from last year’s pace, and new crop commitments to 99.5k RBs, still 27% behind last year's pace.
The Cotlook A Index was 5 points weaker to 98.40 cents/lb. USDA’s weekly Cotton Market Review showed 11,320 bales were sold at an average price of 89.25 cents/lb. The AWP is 76.10 cents/lb for the week through this afternoon, when it will be updated. ICE certified stocks added another 1,100 bales to reach 27,765 as of 3/13.
May 24 Cotton is at 91.95, down 23 points,
Jul 24 Cotton is at 91.97, down 15 points,
Dec 24 Cotton is at 83.82, up 2 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.
