Cotton Close Triple Digits Lower as Crude Oil Tumbles

March cotton futures fell 158 points and expired at 61.39 cents/lb. The other front months were also triple digits lower dropping from 160 points to 185 points. The stock market was sharply lower on the day amid a crude oil fight between the Saudis and Russia, spreading COVID-19, and central bank rate cuts that do nothing to stop the virus. Crude oil tumbled 26.74%. The heavier accumulated rainfall has shifted north, from KY to OK through AR, Middle TX is still expected to receive up to 2.25” of rain through the next 10 days. The south is expected to receive .25 to 1” of rain accumulation in the 10 day forecast. Last week’s sales on The Seam totaled 13,380 bales. The Cotlook A index was 30 points higher to 72.60 c/lb on 03/09. The AWP for cotton for the week is 53.36 c/lb.

May 20 Cotton closed at 61.21, down 158 points,

Jul 20 Cotton closed at 61.91, down 160 points

Oct 20 Cotton closed at 62.16, down 185 points

Dec 20 Cotton closed at 62.11, down 170 points

--- provided by Brugler Marketing & Management




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