Cotton Ends in Black on Monday

Monday cotton futures prices recovered from overnight and early session weakness, and ended the large range day 61 to 66 points higher. December contracts closed 41 points higher to 76.6 cents/lb. The US dollar index was sharply higher, extending a rally that began on Wednesday. On average the trade is looking for a smaller cotton crop in USDA’s forecast tomorrow. The average of estimates is for a 290k bale reduction to 15.66 million. Certified stocks reported by ICE were 68,740 bales as of 1/8. USDA’s Daily Spot Quotations report showed 5,131 bales were sold at spot for an average price of 76.07 cents. That is a MY high average spot price. The Cotlook A index dropped another quarter of a cent to 86.30 cents/lb on 01/08. The AWP is 62.25 cents/lb. 

Mar 21 Cotton closed at 80.43, up 66 points,
May 21 Cotton closed at 81.17, up 62 points
Jul 21 Cotton closed at 81.86, up 61 points
Dec 21 Cotton closed at 76.6, up 41 points

--- provided by Brugler Marketing & Management




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