With March cotton officially off the board – having expired at 99.14 cents, the May contract is up by a limit to close off the expiration gap. The other nearby contracts are also up by triple digits. New crop futures are 71 to 90 points higher so far.
FAS reported 52k RBs of cotton was sold for export during the week that ended 2/29. That was up from the MY low last week but still 100k RBs shy of the 4-wk average. The week’s exports were listed at 331k RBs.
The Cotlook A Index fell by 30 points to 101.05 cents/lb on 3/5. 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.
Jul 24 Cotton is at 97.88, up 389 points,
Oct 24 Cotton is at 88.55, up 282 points,
Mar 25 Cotton is at 84.56, up 92 points
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