Friday Starting Mixed for Cotton Futures

Cotton Field with Drones

May cotton futures rallied back over the $1/lb mark overnight, but have since given it back and are trading 63 points in the red. New crop Dec is still in the black this morning. The bonus day for the month of Feb finished with Cotton prices 38 to 195 points weaker. Old crop again led the way with the larger move, pushing back below the $1 mark past the in-delivery March contracts. Dec ended the month with a net 231 point gain. 

USDA’s FAS reported 39,966 RBs of cotton was sold for export. That was a new MY low. Cotton exports were 267,115 RBs for the week, bringing the season total to 5.343 million. Commitments are now 0.5% behind last year’s pace with 10.477m RBs on the books. 

The Cotlook A Index for 2/28 was 370 points higher at 105.25 cents/lb. The Seam recorded 5,791 bales sold on 2/27 for an average price of 89.1 cents/lb. The AWP was updated to 77.47 cents/lb on Thursday afternoon, a 235 point increase from the week prior. ICE certified stocks were 997 bales as of 2/21. 


May 24 Cotton  closed at 99.57, down 151 points, currently down 63 points

Jul 24 Cotton  closed at 97.77, down 195 points, currently down 34 points

Dec 24 Cotton  closed at 83.81, down 47 points, currently up 29 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.