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Cotton Extending Pop into Thursday Morning
Cotton prices are up 19 to 31 points across the front months to kick of Thursday. Futures reverted from the early weakness on Wednesday to post gains of 1 to 14 points at the close, with a couple early ’25 contracts slightly lower. The outside markets were adding more pressure today, as the US dollar index continues to rally, up another 445 points, with crude oil futures 13 cents lower higher. The Seam reported 438 bales of online sales on November 12 at an average price of 63.28 cents/lb. ICE cotton stocks were unchanged on Tuesday, leaving 174 bales of certified stocks. The Cotlook A Index was down 100 points on 11/12 at 82.25 cents/lb. The USDA Adjusted World Price (AWP) was down another 58 points last week to 57.96 cents/lb. It should be updated later today. Mar 25 Cotton closed at 71.1, up 3 points, currently up 31 points May 25 Cotton closed at 72.38, down 2 points, currently up 25 points Jul 25 Cotton closed at 73.57, down 8 points currently up 23 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. |
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