Cotton Firming Higher on Tuesday

Cotton - amber-martin-9pvTSsNV2T4-unsplash

After a mixed Monday to start the week, nearby cotton futures are trading 29 to 40 points higher. On Tuesday. The US Dollar Index was up sharply on Monday, and is pulling back so far for Tuesday. 

The Chinese cotton market on the Zhengzhou commodity exchange will be closed from Feb 12th through Feb 15th  for the Lunar New Year. 

The Cotlook A Index was up by another 60 points to 95.85 cents. USDA’s weekly Cotton Market Review had 30,988 bales sold for the week with an average price of 81.35 cents/lb. The AWP is 67.64 cents. ICE certified stocks were only 999 bales as of 1/26, with the March contract delivery period just a few weeks away. 

Mar 24 Cotton  is at 87.44, up 40 points,

May 24 Cotton  is at 88.38, up 35 points,

Jul 24 Cotton  is at 88.87, up 35 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.