Cotton is showing mixed trade in early Tuesday action, with front month May down 8 points and most other contracts up 9 to 26 points. Futures found some strength to start the week, as contracts were 11 lower to 70 points higher. The US dollar index was down 176 points, with the crude oil 39 cents lower.
The weekly NASS Crop Progress report had cotton planting across the US at 5% as of Sunday, which was down 1% point from the 5-year average pace.
The Seam reported 560 bales sold on the April 4th sale for an average price of 68.38 cents, a 2.62 cent drop from the previous day. The Cotlook A Index was back down by 150 points to 92.60 cents/lb on 4/5. The AWP weakened by another 140 points to 69.48 on Thursday night, and is in effect through this Thursday.
May 24 Cotton closed at 86.65, up 40 points, currently down 8 points
Jul 24 Cotton closed at 88.39, up 57 points, currently up 22 points
Dec 24 Cotton closed at 82.54, down 11 points, currently up 17 points
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