Home Most Popular The Resilience of Cotton Prices Midday

The Resilience of Cotton Prices Midday

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Cotton Futures Struggling to Maintain Early Rally

Despite an initial attempt at a rally on Monday after the weekend, cotton futures have pulled back slightly from their initial 226 point gains. However, as we hit midday, current prices are still showing an uptick of 14 to 58 points, indicating a resilient stance amidst market fluctuations.

Market Indicators and Performance

For keen observers, the Cotlook A Index took a slight dip of 135 points to settle at 98.45 on 3/15. Notably, USDA’s weekly Cotton Market Review revealed that 11,320 bales were successfully sold at an average price of 89.25 cents/lb. Additionally, the updated AWP stands at 76.10 cents/lb for the week through Thursday. Moreover, ICE certified stocks saw a modest increase, adding another 1,100 bales to reach 27,765 as of 3/13.

Cotton Futures Snapshot

May 24 Cotton  is trading at 94.61, marking a gain of 67 points.

Jul 24 Cotton  is priced at 94.25, showing an increase of 66 points.

Dec 24 Cotton  stands at 83.81, moving up by 13 points.

On the publication date, Alan Brugler had no positions in any of the securities mentioned in this article, either directly or indirectly. The information and data presented here are for informational purposes only. For more insights, please refer to the Barchart Disclosure Policy.

The opinions shared in this article are those of the author and may not necessarily align with the views of Nasdaq, Inc.