The cotton market closed out the Tuesday session with contracts up 40 to 58 points on the day. The outside factors were mixed. Crude oil futures were up $1.09/barrel on the day, with the US dollar index $0.360 higher.
The National Cotton Council released their annual spring cotton planting survey, showing inventions for 9.6 million acres of cotton this year, down 14.5% from last year.
The Cotlook A Index was up another 25 points on February 14 at 78.80 cents/lb. The Seam reported 2,759 bales of online sales on Monday at an average price of 61.20 cents/lb. ICE cotton stocks were steady again on 2/14 at 218 bales of certified stocks. The USDA raised their Adjusted World Price (AWP) by 81 points at 53.99 cents/lb last Thursday afternoon.
Mar 25 Cotton closed at 67.51, up 40 points,
May 25 Cotton closed at 68.82, up 51 points,
Jul 25 Cotton closed at 69.69, up 58 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.
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