Cotton Rebound Gains Triple Digits

At the close, Monday’s recovery left the cotton board 143 to 159 points higher. USDA’s Daily Spot Quotations report showed 5,012 bales sold for an average price of 80.35 cents. MYTD cash sales were 1.2m bales in the report. Ahead of USDA’s Feb estimates, trade is looking for a smaller production. The average of trade expectations carries the smaller crop through tighter ending stocks. Pre report expectations also hint at a higher export figure. The 02/05 Cotlook A index was up another 3.20 points to 90.90 cents per pound. USDA lowered the week’s Adjusted World Price for cotton by 121 points to 66.38 cents/lb., effective through Thursday.

Mar 21 Cotton closed at 84.28, up 154 points,
May 21 Cotton closed at 85.6, up 158 points
Jul 21 Cotton closed at 86.43, up 159 points
Dec 21 Cotton closed at 82.12, up 148 points

--- provided by Brugler Marketing & Management




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