Front month cotton futures are working 37 to 84 points in the red after a strong start to the week. March cotton has flipped to net lower for the week’s move by 18 points so far.
Monthly cotton shipments were shown at 557,636 bales for November. That compared to 390k bales in October and 756k during Nov ’22. The season’s total shipment reached 2.64 million bales via the Census data. That compares to 3.3m last year and is 21.6% of the WASDE full year forecast through the first 5 months.
The Cotlook A Index was 25 points stronger on 1/9 to 90.65 cents/lb. The Seam had 4,046 bales sold online for an average gross price of 72.15 cents/lb for 1/8. The AWP was up by another 80 points to 64.96 cents/lb.
Mar 24 Cotton closed at 80.08, down 65 points,
May 24 Cotton closed at 81.24, down 56 points,
Jul 24 Cotton closed at 82.1, down 47 points
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