Cotton Recovering into Tuesday

Alan Brugler Barchart Tue Dec 5, 2023
Cotton Field with Drones

AM cotton prices are working 18 to 26 points higher so far for a possible Turnaround Tuesday. Cotton dropped on the first trade day of the week to close 63 to 74 points in the red. March futures were less than 10 points off their daily low at the settle. The Dollar Index was higher on Monday after reversing initial weakness.  

The Cotlook A Index was 60 points stronger at 90.30 cents/lb for 12/1. USDA’s weekly Cotton Market Review showed 35,889 bales were sold with an average price of 75.04 cents/lb. The AWP was 105 points lower to 64.18 cents/lb. ICE decertified nearly 30k bales for a 58,324 certified stock as of 12/1. 

 

Mar 24 Cotton  closed at 78.68, down 74 points, currently up 28 points

May 24 Cotton  closed at 79.42, down 70 points, currently up 24 points

Jul 24 Cotton  closed at 80.08, down 69 points, currently up 18 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.