Cotton was up by 40 points overnight, and is now trading mostly lower within 8 points of UNCH. Thursday’s session pulled March cotton back to the 40-day moving average after futures gapped above the mark on the Wednesday open. The intra-day gap is still open to 80.01 cents. The other front months were also 47 to 76 points weaker at the close.
The Seam reported 7,737 bales were sold online on 1/3 for an average gross price of 72.82. The Cotlook A Index was 91.40 on 1/2, UNCH from the day prior. The AWP was up by another 80 points to 64.96 cents/lb.
Mar 24 Cotton closed at 80.12, down 81 points, currently down 5 points
May 24 Cotton closed at 81.32, down 76 points currently down 5 points,
Jul 24 Cotton closed at 82.12, down 67 points, currently down 8 points
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