Cotton Working Off Highs, Still +200 Points at Midday

Alan Brugler Barchart Wed Feb 28, 12:22PM CST
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The cotton market had gotten to the expanded 5 cent limit earlier in the session, but has backed off into midday. Futures are still trading 200 points higher so far for the day with May over the $1 mark. New crop prices are red at midday, giving back as much as a penny. 

Tightening US stocks and still decent export demand has the market doing its best to ration out demand with higher prices. 

The Cotlook A Index dropped by 80 points to 100.70 cents for 2/26. The AWP was 168 points stronger at 75.12 cents. ICE certified stocks were 997 bales as of 2/21. 

Mar 24 Cotton  is at 107.25, up 650 points,

May 24 Cotton  is at 101.25, up 245 points,

Jul 24 Cotton  is at 100.04, up 236 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.