With tick volume already over 5.3k contracts for the session, the May contract has rallid 278 points so far for Wednesday – yesterday’s full day volume was 6.2k contracts. The nearby cotton futures were more than a penny off their session lows at the closing bell on Tuesday. Prices were still 7 to 34 points weaker out to the March ’25 contract which ended 8 points higher. The spot May contract printed a 121 point range on the day. Dec futures are still at an 11.05 cent discount to spot. Marh futures were down to just 8 active contracts as of the 3/4 settle.
The Cotlook A Index fell by another 370 points on 3/4 to 102.25 cents. The Seam had 4,664 bales sold on 3/4 for an average gross price of 88.63 cents/lb. The AWP was 77.47 cents/lb on. ICE certified stocks were 1,636 bales as of 3/4.
May 24 Cotton closed at 94.24, down 34 points, currently up 265 points
Jul 24 Cotton closed at 93.07, down 30 points, currently up 248 points
Dec 24 Cotton closed at 83.19, down 7 points, currently up 56 points
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