Cotton prices saw a 111-point range on Thursday with trades either side of UNCH. At the near futures were 23 to 42 points higher for old crop and UNCH to 2 points weaker in new crop. The current March quote is now a 221-point premium to Dec ’24, compared to 226 at the start of the month, and 8.16 cents at the September high.
The updated Drought Monitor showed that N. TX has slightly improved from last week, but there is still D3-D4 level drought in almost every state in the cotton belt. Last year KS and OK were worse at this time, although the Southeast is 11.8% points more in drought including 2.5% points more in D3-D4.
The Sewing reported that 13,493 bales of cotton were sold online on 12/27 with an average gross price of 74.09 cents/lb. The Cotlook A Index for 12/27 was a hundredth stronger at 90.40 cents/lb. The AWP was 36 points higher for the week at 64.16 cents/lb.
Mar 24 Cotton closed at 80.95, up 42 points,
24 May Cotton closed at 81.9, up 34 points,
July 24 Cotton closed at 82.42, up 23 points
As of 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 for informational purposes only. For more information, please see Barchart’s Disclosure Policy here.
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