Cotton price action is down 18 to 32 cents in early Wednesday Trade. Futures saw a Turnaround Tuesday bounce, to close out the session 66 to 99 points higher. Crude oil futures were down 9 cents/barrel. The US dollar index was back up $0.503 to $99.900.
Weekly Crop Progress data showed the US cotton crop at 5% planted, which is behind the 3% average pace at 8%. Only AL, AZ, MO, and TN were seen faster than average, with TX 5 percentage points behind average at 8%.
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The Seam reported just 863 cash bales sold on 4/14, at an average price of 58.60 cents/lb. The Cotlook A Index was down 20 points on Monday at 78.10 cents/lb. ICE cotton stocks were steady on April 14 with a certified stocks level of 14,478 bales. USDA’s Adjusted World Price (AWP) was back down 212 points last week to 53.10 cents/lb.
May 25 Cotton closed at 65.08, up 99 points,
Jul 25 Cotton closed at 66.12, up 77 points,
Dec 25 Cotton closed at 67.6, up 66 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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