The midday cotton quotes are working mid-range for Thursday with 27 to 43 point losses. March was down by as much as 85 points earlier in the session.
NOAA’s 7-day QPF has heavy rainfall for the Gulf and as much as 10” accumulating for the FL panhandle. Most of the inland cotton area can expect at least 2”, though TX will miss out. The updated Drought Monitor still had most of LA and AL in D3-D4 drought.
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 was 91.40 on 1/2, UNCH from the day prior. The AWP was 36 points higher for the week at 64.16 cents/lb.
Mar 24 Cotton is at 80.59, down 34 points,
May 24 Cotton is at 81.73, down 35 points,
Jul 24 Cotton is at 82.5, down 29 points
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