Cotton Finished Higher on Thursday

Alan Brugler Barchart Thu Nov 30, 2023
Cotton - kolya-korzh-zrVY4blkWI4-unsplash

The front month cotton market ended with 44 to 81 points stronger on the day. New crop Dec was 25 points higher at the close. The Dec/Dec spread ended the Thursday session 177 points inverse. 

The weekly Export Sales report showed 217,662 RBs of cotton was booked during the week that ended 11/23. That was a 5-wk low, with Vietnam listed as the top buyer. USDA had 88,846 RBs shipped during the week, for a season total of 2.32 million RBs. Total cotton commitments reached 7.8 million RBs, compared to 8.7m at the same time last year. 

The Cotlook A Index for 11/29 was 25 points stronger to 89.70 cents. The Seam reported another 5k bales were sold on 11/29, with a 74.96 cent/lb average price. The AWP was 105 points stronger to 64.18 cents/lb. ICE certified stocks stand at 87,769 bales.  

 

Mar 24 Cotton  closed at 80.06, up 47 points,

May 24 Cotton  closed at 80.7, up 47 points,

Jul 24 Cotton  closed at 81.28, up 44 points


On the date of publication, Alan Brugler 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.