Midweek Cotton Trade Keeps Momentum

Alan Brugler Barchart Wed Dec 6, 2023
Cotton Grass Flower

Cotton is another 60 to 100 points higher in the AM for Wednesday. Front month cotton futures were 47 to 100 points higher for a Turnaround Tuesday close. March led the way, and is now at a penny premium to the soon to expire Dec contract. The Dollar Index rallied another 0.34% on Tuesday. 

The Cotlook A Index backed off by 50 points back to 89.80 cents/lb. The AWP was 105 points lower last Thursday, to 64.18 cents/lb. It will be updated Thursday after the close by USDA. ICE decertified nearly 30k bales for 58,324 certified stocks as of 12/1. 

 

Mar 24 Cotton  closed at 79.68, up 100 points, currently up 93 points

May 24 Cotton  closed at 80.27, up 85 points, currently up 86 points

Jul 24 Cotton  closed at 80.73, up 65 points, currently up 86 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.