Cotton Coming Out of Christmas Break with Gains
Cottonprice action is coming out of the Christmas holiday with contracts up 15 to 21 points. Futures gave back some of Monday’s jolliness, with Tuesday losses of 14 to 64 points. The outside markets were mixed factors, with the US dollar index up 193 points and crude oil $0.93/barrel higher.
The Seam reported 16,232 bales of online sales on December 23 at an average price of 61.50 cents/lb. ICE cotton stocks were unchanged on Monday, at 20,113 bales of certified stocks. The Cotlook A Index was up 15 points on 12/23 at 78.30 cents/lb. The USDA Adjusted World Price (AWP) was cut by another 113 points last week to 55.09 cents/lb. It is good through Thursday.
Mar 25 Cotton closed at 68.78, down 64 points, currently up 21 points
May 25 Cotton closed at 69.88, down 59 points, currently up 19 points
Jul 25 Cotton closed at 70.85, down 51 points currently up 18 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.