Cotton is Firm to Mixed at Midday

Following the triple digit rally from turnaround Tuesday, cotton is 8 points lower to 12 points higher. The stock market (Dow) posted the largest single day rally since 1933 on Tuesday, and is up another 1000+ points today. Apparently the potential for $2 trillion in financial grease from the taxpayers is enough to restore confidence in the markets. Whether it is a relief rally, dead cat bounce, or the start of something bigger remains to be seen. Monday sales on the online cotton trading platform The Seam totaled 135 bales at an average gross price of 45.50 cents/lb. That was the lowest average sale price on The Seam since 08/26. The 03/23 Cotlook A index was down another 150 points to 62.70 c/lb. The AWP for cotton is 49.95 c/lb. through Thursday.

May 20 Cotton is at 52.81, down 8 points,

Jul 20 Cotton is at 52.99, down 2 points

Oct 20 Cotton is at 54.82, up 12 points

Dec 20 Cotton is at 54.62, down 3 points

--- provided by Brugler Marketing & Management




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