Cotton Trades Triple Digits Again

Front month cotton futures closed with another triple digit move on Wednesday. For old crop contracts, Wednesday marked the 5th consecutive session with a triple digit change in either direction. For Wednesday the direction was down, with 189 to 296 point givebacks. New crop December contracts also pulled back, closing down 113 points. Tuesday sales on The Seam were 14,477 bales for an average gross price of 77.72 cents/lb. USDA’s Daily Spot Quotations reported 6,968 bales sold at spot on 02/10. The average cash price was 83 cents flat to maintain basis. The Cotlook A index recovered 160 points to 91.10 cents on Feb 9. The AWP for cotton is 66.38 cents/lb, and will be updated tomorrow.

Mar 21 Cotton closed at 84.67, down 226 points,
May 21 Cotton closed at 86.18, down 195 points
Jul 21 Cotton closed at 87, down 189 points
Dec 21 Cotton closed at 82.54, down 113 points

--- provided by Brugler Marketing & Management

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