Cotton futures are holding onto the gains, with contracts up 46 to 72 points at midday. The outside markets are mixed at midday, with crude oil futures up $1.44/barrel and the US dollar index back up $0.197 on the day.
The Monday online auction from The Seam showed 5,072 bales sold, with an average price of 63.56 cents/lb. The Cotlook A Index was up another 25 points on 3/11 at 77.95 cents/lb. ICE cotton stocks were steady again on Tuesday, March 11, 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. It will be updated again on Thursday.
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May 25 Cotton is at 66.72, up 72 points,
Jul 25 Cotton is at 67.9, up 71 points,
Oct 25 Cotton is at 69.66, up 46 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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