Cotton Up Currently
Current cotton quotes have the board 30 points in the black so far for Tuesday. Cotton traders worked the board lower to start the new week. Prices settled with 116 to 179 point losses across the front months. March cotton had a 290 point range on the day. The FOMC is meeting on Tuesday and Wednesday to discuss the Federal Funds Rate – likely to be upped 25 – 50 basis points as real rates are still negative.
The Cotlook A Index for 1/27 was 75 points stronger to $1.02 40/100/lb. The AWP for cotton was raised 262 points to 75.05 cents per pound.
Mar 23 Cotton closed at 85.1, down 179 points, currently up 32 points
May 23 Cotton closed at 85.74, down 171 points, currently 30 points
Jul 23 Cotton closed at 86.19, down 161 points, currently 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.
