Cotton futures pushed higher through the Thursday trading session. Futures pulled back before 10 central, and are off their highs for the midday quotes. Futures are still triple digits in the black for the old crop contracts and 55 to 84 points higher in the new crop contracts.
USDA’s FAS reported 262,478 RBs of cotton was booked during the week that ended 1/4. That was more than double the week prior and compares to the 5-wk average of 164k RBs. USDA had China and Vietnam as each booking +100k RBs.
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 is at 81.28, up 110 points,
May 24 Cotton is at 82.34, up 101 points,
Jul 24 Cotton is at 83.03, up 90 points
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