The morning cotton quotes are UNCH to 2 points higher after rebounding from overnight losses. Futures have seen a 66 point range so far overnight for Friday, though the entirety of the positive portion came at the open. Cotton prices saw a 111 point range on Thursday with trades on both sides of UNCH. At the close futures were 23 to 42 points higher for old crop and UNCH to 2 points weaker in new crop. A weaker dollar early in the day helped commodities in general, but the DX came back late. March cotton was a 221 point premium to Dec ’24 at the close, compared to 226 at the start of the month, and 8.16 cents at the Sep high.
The Seam reported 13,493 bales of cotton was sold online on 12/27 with an average gross price of 74.09 cents/lb. The Cotlook A Index for 12/27 was a penny stronger at 90.40 cents/lb. The AWP was 36 points higher for the week at 64.16 cents/lb.
Mar 24 Cotton closed at 80.95, up 42 points, currently up 2 points
May 24 Cotton closed at 81.9, up 34 points, currently up 1 point
Jul 24 Cotton closed at 82.42, up 23 points, currently up 2 points
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