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Cotton Currently Mixed after Overnight Drop![]() Cotton is trading off the overnight lows and mixed within 10 points of UNCH ahead of the weekly USDA Export Sales report and this morning’s USDA supply/demand updates. Cotton futures closed the midweek session 46 to 93 points in the black and just ~20 points off the session highs. Census data confirmed cotton exports were 1.106m bales in December. That was a 3-yr high for the month and was a MY high for the season. The season’s total was up to 3.746 million bales through Dec. 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 2/6.
Mar 24 Cotton closed at 88.47, up 93 points, currently down 7 points May 24 Cotton closed at 89.3, up 90 points, currently down 9 points Jul 24 Cotton closed at 89.59, up 72 points, currently down 7 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. |
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