Cotton futures rallied another 1.1% on Monday, taking the front months to levels not seen since late October. New crop also firmed up for the day, though gains were limited to 26 points. The March-Dec spread, at 4.35 cents going home, is also the widest since late October.
The Seam confirmed another 23.883 bales were sold on 1/19, to top the 22k on Thursday, for an average gross price of 75.84 cents/lb. The Cotlook A Index was 15 points weaker on 1/19 to 91.95 cents/lb. ICE certified stocks were 1,949 bales as of 1/19. The AWP for cotton is 65.47 cents/lb through Thursday.
Mar 24 Cotton closed at 84.83, up 88 points,
May 24 Cotton closed at 85.86, up 97 points,
Jul 24 Cotton closed at 86.26, up 94 points
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