Triple Digit Losses for Tuesday Cotton
Dec cotton is working near the lowest prints since mid-July with another 2.4% drop through Tuesday’s midday. The other front months are also trading lower so far on triple digit losses.
On Monday afternoon, NASS showed 87% of the US cotton acreage had cotton bolls open, 1ppt behind the average pace. Harvest had advanced 8% points for the week to 33% complete. The average pace would be 32% finished. Conditions fell 6 points to 269 on the Brugler500 Index. Arkansas, AZ, and AL as well as SC were improved for the week, though MS, TN, TX, and VA were weaker for the week.
The Cotlook A Index was steady at 95.25 cents/lb on 10/13. USDA’s AWP for cotton is 71.06 on Thursday.
Dec 23 Cotton is at 83.2, down 195 points,
Mar 24 Cotton is at 85.37, down 168 points,
May 24 Cotton is at 86.67, down 159 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.
