Cotton price action on Tuesday morning is up 14 points in the May, but down 4 to 13 across most other contracts. Futures closed out the Monday session with contracts up 207 to 263 points. The outside markets were not supportive. Crude oil futures were down $1.17/barrel, as the US dollar index was back up $0.452 on the day.
NASS Crop Progress data indicated a total of 4% of the US cotton crop has been planted as of Sunday, lagging the 6% pace from the 5-year average and the 5% from last year.
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President Trump has responded to the Chinese retaliatory 34% tariff with an additional 50% on Chinese goods if they don’t take back the issued 34%. He gave them a deadline of today to withdraw the tariffs.
The Cotlook A Index was back down 290 points on Friday at 76.70 cents/lb. ICE cotton stocks were unchanged on 4/4, with the current level of certified stocks at 14,488 bales. USDA’s Adjusted World Price (AWP) was back up 158 points last week to 55.22 cents/lb.
May 25 Cotton closed at 65.99, up 263 points, currently up 16 points
Jul 25 Cotton closed at 66.89, up 233 points, currently down 10 points
Dec 25 Cotton closed at 68.23, up 207 points currently down 12 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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