Cotton Ended in Red

Cotton futures turned negative after trading with gains at midday. The front months closed out the Tuesday session 46 to 88 points lower. The US dollar index is sharply higher today, with June futures taking out the February 20 peak. The Dow Jones was 1,048.86 higher on Turnaround Tuesday. The national average cotton basis, derived from USDA confirmed spot sales, was 518 under May on 03/16. That was even with last week. The USDA reported 6,062 bales sold at spot on 03/16. The online cotton trading platform was The Seam sold 5,582 bales at an average gross price of 55.12 c/lb on 03/16. The Cotlook A index was 75 points back up to 70.05 c/lb. The AWP for cotton is 53.04 c/lb through Thursday.

May 20 Cotton closed at 57.92, down 88 points,

Jul 20 Cotton closed at 58.35, down 76 points

Oct 20 Cotton closed at 59.05, down 46 points

Dec 20 Cotton closed at 59.1, down 59 points

--- provided by Brugler Marketing & Management




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