Cotton futures are using some of the newer 4 cent limit in the July contract on Thursday, down 343 points. Other contracts are down 150 to 200 points. Outside factors are showing crude oil down $1.23/barrel, with the US dollar index down 414 points.
Rains across much of cotton country may be to blame for the weakness, as crop conditions are already off to a decent start.
ICE certified cotton stocks were down a massive 60,242 bales on May 29 at 133,448 bales. The Cotlook A Index was 170 points on May 28 at 91.30 cents/lb. The AWP was 62 points to 60.08 cents/lb and will be updated later today.
Jul 24 Cotton is at 77.67, down 343 points,
Dec 24 Cotton is at 76.15, down 195 points,
Mar 25 Cotton is at 77.79, down 184 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
