Cotton Mixed on Tuesday
Cotton futures are trading with contracts down 18 to slightly higher in some nearby contracts on Tuesday. Crude oil prices are trading with gains of $1.80/barrel. The US dollar index was back down $0.714 to $100.890.
Crop Progress data showed 28% of the US cotton crop planted as of 5/11, now behind the 31% average planting pace. Texas planting progress was 2 points back of average at 27%,w ith GA at 24%, behind the 28% average.
The Friday online auction from The Seam showed sales of 1,415 bales at an average price of 68.86 cents/lb. The Cotlook A Index was steady on Monday at 78.25. ICE cotton stocks were up 4,990 bales on May 12 on new certifications, with a certified stocks level of 27.240 bales. USDA’s Adjusted World Price (AWP) was back down 13 points last Thursday to 54.81 cents/lb.
Jul 25 Cotton is at 66.45, down 18 points,
Oct 25 Cotton is at 69.55, up 66 points,
Dec 25 Cotton is at 68.86, up 1 points
On the date of publication, Austin Schroeder 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.