Cotton Mixed Following CPI Data

Alan Brugler Barchart Wed Apr 10, 11:50AM CDT
Cotton -marianne-krohn-RNqZbnBnMQk-unsplash

Cotton is trading 27 to 44 points lower in the old crop contracts on Wednesday, with new crop months up 31 to 43 points. March CPI data was released this morning, showing inflation rising at a 3.5% rate, with corn CPI at +3.8%. both above expectations. The US dollar index is up more than 1133 points at midday, adding pressure to the old crop months. 

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

The Seam had a total of just 513 bales sold on April 9, for an average price of 61.75 cents. That was a sharp 6.63 cent drop from the previous sale, though volume was light. The Cotlook A Index was back up 70 points to 92.65 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  is at 85.6, down 44 points,

Jul 24 Cotton  is at 87.42, down 42 points,

Dec 24 Cotton  is at 81.67, up 31 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.