Cotton Post Triple Digit Tuesday Losses

Austin Schroeder Barchart Tue Nov 12, 5:15PM CST
Cotton on dry branch by Marianne Krohn via Unsplash

Cotton futures continue to feel pressure from the rallying dollar, as contracts closed the Tuesday session with contracts down 72 to 115 points. The outside markets continue to pressure the market, with crude oil futures down 7 points and the US dollar index up another 408 points on the day.

The weekly Crop Progress report from NASS showed cotton harvest at 71% complete as of November 10, 8 percentage points above the 5-year average pace. 

                                                                

The Seam reported 824 bales of online sales on November 11 at an average price of 66.61 cents/lb. ICE cotton stocks were unchanged on Monday, leaving 174 bales of certified stocks. The Cotlook A Index was down 10 points on 11/11 at 83.25 cents/lb. The USDA Adjusted World Price (AWP) was down another 58 points last week to 57.96 cents/lb.

Mar 25 Cotton  closed at 71.07, down 113 points,

May 25 Cotton  closed at 72.4, down 115 points,

Jul 25 Cotton  closed at 73.65, down 113 points


On the date of publication, Austin Schroeder 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.