Cotton Closes in Black

At the close, nearby cotton prices had gained 16 to 34 points. New crop prices were stronger on the day, and tightened the July/Dec inverse to 83 points. May futures officially expire tomorrow, though OI has been very tight through the delivery process. ICE reported another delivery against May cotton futures, bringing the MTD deliveries to 68 contracts – mostly issued by Wells Fargo. 


USDA’s 5/5 DSQ showed 262 bales were sold at spot. The monthly Cotton Price Statistics update showed USDA saw 79.89 c/lb as the average cash cotton price in April. USDA noted 36,866 bales were sold during the month. The 5/4 Cotlook A index was up 115 points to 93.05 cents/lb. The AWP for cotton for the week is 73.71 cents/lb, and will be updated after tomorrow’s close.     


Jul 21 Cotton  closed at 87.33, up 16 points,

Oct 21 Cotton  closed at 87.01, up 34 points,

Dec 21 Cotton  closed at 85.4, up 34 points

Market Commentary provided by:

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