Cotton Closes Near Lows with 2 Cent Losses
The old crop market faded by more than 2 pennies per pound on Wednesday, though the new crop futures firmed up off their session lows for the bell. New crop prices were still 82 to 96 points in the red, though Dec was 33 points off the low.
The Seam recorded 4,299 bales sold online for 3/26 at an average gross price pf 79.32 cents. The 3/26 Cotlook A Index was 45 points higher to 96.90 cents/lb. The AWP is 72.50 cents per pound, in effect for farm program purposes through Thursday. ICE certified stocks were shown at 41,756 bales as of 3/20.
May 24 Cotton closed at 90.77, down 264 points,
Jul 24 Cotton closed at 91.44, down 242 points,
Dec 24 Cotton closed at 83.34, down 96 points
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.