Cotton Falling at Midday
Midday action in the cotton market is showing losses of 48 to 198 points so far on Wednesday, as the trend remains lower. Pressure is being felt from the crude oil side of things, with futures down $2.79 at midday.
ICE certified cotton stocks were up another 2,269 bales on April 16 at 171,700 bales. The Cotlook A Index was back up 70 points to 89.60 cents/lb on April 16. The AWP dropped another 405 points to 65.43 last Thursday and is good through this Thursday.
May 24 Cotton is at 79.41, down 188 points,
Jul 24 Cotton is at 81.28, down 181 points,
Dec 24 Cotton is at 78.58, down 56 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.