Cotton futures finished the day mixed as old crop closed mostly weaker but within 11 points of UNCH. The new crop cotton market rallied 30 to 51 points to start the week. That left Dec at a 321 point discount to spot futures.
NOAA’s update 7-day QPF has more rainfall for the TX/LA Gulf, with accumulations of as much as 4”. Most areas, including N.W. TX and OK, will expect to receive 1”. Northern MS/AL/GA will mostly miss out.
The Cotlook A Index for 1/26 was another 40 points stronger to 94.85 cents. USDA’s weekly Cotton Market Review had 95,183 bales sold for the week, quoting the average price at 81.24 cents/lb. The AWP increased by 217 points to 67.64 cents for the week. ICE certified stocks were 999 bales as of 1/26.
Mar 24 Cotton closed at 84.26, down 11 points,
May 24 Cotton closed at 85.57, down 6 points,
Jul 24 Cotton closed at 86.35, up 3 points
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