The board is slipping another 36 to 47 points so far this morning for a potential 3rd consecutive day. Tuesday’s trade ended with triple digit losses across the front months, including a 151 point loss for Dec.
NASS showed 82% of the cotton crop’s bolls were open as of 10/8 – matching the average pace. The weekly update put harvest pace at 25%, up 7% points for the week and 1% point ahead of average. Weekly Conditions improved 7 points on the Brugler500 Index to 275. TN was up the most, with AZ and TX improvements also noted.
The Cotlook A Index for 10/6 was another 40 points weaker to 96.65. The updated AWP for cotton was 72.36 cents/lb, up 9 points for the week. ICE Certified Stocks were 39,817 bales on 10/04.
Dec 23 Cotton closed at 85.45, down 151 points, currently down 33 points
Mar 24 Cotton closed at 87.26, down 134 points, currently down 40 points
May 24 Cotton closed at 88.22, down 128 points, currently down 41 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.
