Cotton Futures Struggle
Wednesday saw front month cotton futures grappling with losses ranging from 18 to 88 points, marking a continued downward trend in the midweek session. At one point, the futures dipped as much as 153 points below, highlighting the ongoing struggle within the cotton market.
Market Indicators
The Cotlook A Index displayed a 5-point decline, settling at 98.40 cents/lb. According to USDA’s weekly Cotton Market Review, around 11,320 bales were sold at an average price of 89.25 cents/lb. Additionally, the updated AWP for the week up to Thursday sits at 76.10 cents/lb. Meanwhile, ICE certified stocks climbed by another 1,100 bales, reaching 27,765 as of 3/13.
Current Cotton Prices
May 24 Cotton is currently at 92.54, marking an 80-point decline. Similarly, Jul 24 Cotton stands at 92.44, down by 68 points, while Dec 24 Cotton is at 83.66, reflecting a 34-point decrease.
As of the publication date, it is important to note that Alan Brugler did not hold any positions related to the securities mentioned in this article, either directly or indirectly. The information and data provided in this piece are intended solely for informational purposes. For further details, please refer to the Barchart Disclosure Policy.
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