Cotton Gets Small Pop on Monday
Cotton futures were 4 to 14 points higher on Monday, with contracts past May 2025 down 2 to 15 points. The outside market factors were not supportive, with crude oil down 35 cents and the US dollar index 190 points higher.
NASS Crop Progress data showed 44% of the US cotton crop was planted as of Sunday, a 11% increase on the week. That is now in line with the average pace over the last 5-years and 2% above last year.
ICE certified cotton stocks rose another 3,509 bales on May 16 at 192,348 bales. The Cotlook A Index was up another 75 points on May 16 at 85.85 cents/lb. The AWP dropped another 18 points to 59.46 on Thursday and is good through this Thursday.
Jul 24 Cotton closed at 76.03, up 14 points,
Dec 24 Cotton closed at 75.01, up 4 points,
Mar 25 Cotton closed at 76.63, up 5 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.
