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Cotton Bulls Pushing Back Higher
Cotton prices are showing 19 to 23 point gains across the front months to kick off Thursday trade. futures ended the Wednesday session with contracts down 2 to 5 points across the nearbys at the close. The outside markets ended as pressure factors, with the US dollar index coming back to close steady and crude oil back down $1.23/barrel lower after creeping back above $70 overnight. The Seam reported 3,500 bales of online sales on December 3 at an average price of 63.27 cents/lb. ICE cotton stocks were unchanged again on Monday, at 13,274 bales of certified stocks. The Cotlook A Index was down 50 points on 12/3 at 81.75 cents/lb. The USDA Adjusted World Price (AWP) was raised by 162 points last week to 57.53 cents/lb. It will be updated tomorrow afternoon. Mar 25 Cotton closed at 71.25, down 2 points, currently up 23 points May 25 Cotton closed at 72.5, down 5 points, currently up 19 points Jul 25 Cotton closed at 73.43, down 4 points, currently up 20 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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