Cotton Futures Higher Along With Other Commodities

Cotton futures are 88 to 136 points higher early on Tuesday. May futures have become very illiquid and are not representative. Open interest was down to 78 on Monday. New crop cotton futures faded morning highs through the afternoon, but the late session rally left prices 2to 13 points in the black. Old crop cotton futures stayed in the black and closed Monday 35 to 42 points higher.

USDA reported cotton planting at 12% of the expected area. That is up just 1% point on the week, and is now only 1% point ahead of average. The weekly Crop Progress report from NASS showed TX was 17% planted and GA was 7% planted.

Friday sales on The Seam were 2,343 bales for an average gross price of 78.86 c/lb. USDA’s Daily Spot Quotations report showed 453 bales were sold at spot, for the 4/26 report. The Cotlook A index was down 25 points on 4/23 to 91.95 cents/lb. The AWP for cotton is 70.49 cents/lb through Thursday.  

May 21 Cotton  closed at 87.86, up 35 points,

Jul 21 Cotton  closed at 89.22, up 42 points,

Dec 21 Cotton  closed at 84.95, up 2 points

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