Cotton Rallying After Week of Losses
Cotton futures are seeing some profit taking off the recent drop, as contracts are up 147 to 268 points at midday, disregarding the thin May. A weaker US dollar is also helping, with midday losses of 288 points.
ICE certified cotton stocks were down 11 bales on the first of May at 186,110 bales. The Cotlook A Index was back down 175 points on May 2 at 83.55 cents/lb. The AWP dropped another 78 points to 60.55.
May 24 Cotton is at 74.92, down 89 points,
Jul 24 Cotton is at 78.2, up 258 points,
Dec 24 Cotton is at 75.9, up 172 points
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
