Cotton Trying to Pull Higher on Wednesday Morning

Alan Brugler Barchart Wed Apr 10, 7:33AM CDT
Cotton fabric with texture

Cotton is showing continued weakness in the May contract ahead of options expiration, down 6 points. Other contracts are up 16 to 35 points led by the new crop months. May cotton continues to leak lower as traders exit ahead of Thursday’s USDA reports and Friday’s May options expiration.  December and the other new crop contracts also saw sell pressure.  US inflation data will be released on Wednesday, creating uncertainty about Fed strategy. 

NASS is discontinuing the cotton objective yield surveys this fall due to budgetary issues. 

The Cotlook A Index was down another 65 points to 91.95 cents/lb on 4/8. The AWP weakened by another 140 points to 69.48 last Thursday and is in effect through this coming Thursday.

May 24 Cotton  closed at 86.04, down 61 points, currently down 8 points

Jul 24 Cotton  closed at 87.84, down 55 points, currently up 16 points

Dec 24 Cotton  closed at 81.36, down 118 points, currently up 34 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.