Cotton Rebounds to Close Mixed

After posting midday losses, afternoon trading in the cotton futures market turned prices mixed for the close. Old crop futures were 11 to 19 points in the black, while new crop futures could only rally back to minus 9 points.

Ahead of the March Prospective Plantings report, analysts are gravitating to about 12m acres. The average of estimates is for 12.15, but the range is from 11.3 to 13 million. Last year’s planting intentions in March was 13.7m acres, but final acreage was only 12.1 million. TX’s state Crop Progress report showed cotton planting has progressed to 6% of expected area – compared to the 5% average pace.

USDA’s DSQ report noted 2,640 bales sold. The . The Cotlook A index for March 26 was down a sharp 3.4 cents to 85.10 cents/lb. USDA’s FSA had lowered the AWP for cotton to 68.55 cents/lb.

May 21 Cotton  closed at 80.49, up 11 points,

Jul 21 Cotton  closed at 81.6, up 19 points,

Dec 21 Cotton  closed at 78.65, down 9 points




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