Cotton Closes Lower on Wednesday

Front month cotton futures ended the session 62 to 78 points lower. For March, that was the third red candle this month, during which prices have gained 3.6%. New crop Dec cotton is discounted to March by 4.12 cents after Wednesday. Last year new crop was a 1.21 cent premium to March. Cotton ginnings through January 1 were 13.003m RBs. That is 26% lower yr/yr and still the lightest since the 15/16 crop. Cotton sales reported on The Seam for Tuesday were 21,154 bales for an average gross price of 73.11 cents. USDA’s Daily Spot Quotations report noted 22,662 bales were sold at an average price of 76.78 cents/lb on Wednesday. The Cotlook A index was 60 points higher on 1/12 to 86.90 cents/lb on 01/11. The AWP is 62.25 cents/lb and will be updated after the close tomorrow. 

Mar 21 Cotton closed at 80.92, down 78 points,
May 21 Cotton closed at 81.77, down 68 points
Jul 21 Cotton closed at 82.53, down 62 points
Dec 21 Cotton closed at 76.8, down 43 points

--- provided by Brugler Marketing & Management




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