Cotton price action is up 12 to 19 points on Wednesday morning. Futures posted 66 to 114 point gains across the board on Tuesday. The US dollar index was 0.278 higher at $98.185. Crude oil was up another $2.19 to $91.80
NASS Crop Progress data showed 11% of the US cotton crop planted as of April 19, which was 1 percentage point ahead of the 5-year average of 10%. All of the 15 major states reported were at or ahead of average, with exception to LA and VA, with TX matching the normal pace at 16%.
The Seam showed just 64 bales sold on Monday at an average of 65.98 cents/lb. The Cotlook A Index was 175 points higher on 4/20 at 89.10 cents. ICE certified cotton stocks were steady on April 20, with the certified stocks level at 164,967 bales. The Adjusted World Price was up another 287 points on Thursday at 61.61 cents/lb.
May 26 Cotton closed at 78.26, up 66 points, currently up 17 points
Jul 26 Cotton closed at 80.86, up 82 points, currently up 19 points
Dec 26 Cotton closed at 81.79, up 103 points, currently up 15 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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