Cotton prices are down by 27 to 75 points so far ahead of USDA’s weekly Export Sales data release. Cotton prices finished Wednesday with 29 to 37 point gains in new crop, but 25 to 33 point losses in old crop. May futures printed 170 point range. The May/Dec spread tightened to a 10.94 cent/lb new crop discount.
NOAA’s updated 7-day QPF shows rainfall for the TX Gulf and AR/N. MS. Most of the Southeast can expect at east ¾ of an inch, with the heaviest accumulations through the week near 3”.
The Cotlook A Index weakened further by 40 points to 101.20 cents/lb on 3/12. The Seam reported 8,510 bales sold online on 3/7 with an average gross price of 87.17 cents. The AWP is 76.88 cents/lb, in effect through Thursday. ICE certified stocks were listed at 26,665 bales as of 3/12.
May 24 Cotton closed at 94.9, down 33 points, currently down 76 points
Jul 24 Cotton closed at 94.34, down 25 points, currently down 69 points
Dec 24 Cotton closed at 83.96, up 29 points, currently down 32 points
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