Old Crop Cotton Rallying into Tuesday

The morning cotton market has futures up by triple digits with a 2.8% gain for the July contract. Cotton futures were up by 62 to 165 points at the close for Monday. May futures printed a wide 240 point range on the day, with more than a penny per pound on both sides of UNCH. The new crop Dec contract is now more than a dime/lb under spot futures. 

USDA’s weekly Cotton Market review showed 12,251 bales were sold this week averaging 88.33 cents/lb. The Cotlook A Index was 230 points weaker to 99.30 cents/lb. The AWP was 168 points stronger at 75.12 cents. ICE certified stocks were 997 bales as of 2/21. 

 

Mar 24 Cotton  closed at 96.58, up 165 points, currently up 13 points

May 24 Cotton  closed at 94.8, up 131 points, currently up 279 points

Jul 24 Cotton  closed at 93.68, up 106 points, currently up 277 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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