Cotton Holds Slight Gains on Monday
Cotton futures closed out the Monday session with contracts up 6 to 49 points across most contracts and may down 7 points. The outside markets are pressure factors, with crude oil futures down $1.13/barrel and the US dollar index back up $0.083 on the day.
Thursday’s online auction from The Seam saw 1,936 bales sold, with an average price of 62.29 cents/lb. The Cotlook A Index was back up 150 points on 3/6 at 76.95 cents/lb. ICE cotton stocks were steady on March 7 with the current level of certified stocks at 14,488 bales. The USDA slashed their Adjusted World Price (AWP) last Thursday afternoon by 201 points to 51.88 cents/lb.
May 25 Cotton closed at 66, down 7 points,
Jul 25 Cotton closed at 67.21, up 6 points,
Oct 25 Cotton closed at 69.11, up 49 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.