Cotton Up Triple Digits

Front month cotton futures are up triple digits at midday, with the stock market shaking off yesterday’s capital gains tax worries and putting that in the long term rather than short term risk bucket. Old crop July cotton is up the most so far with a 227 point gain. New crop futures are trading 121 to 133 points in the black. May cotton futures enter deliveries following Monday’s First Notice Day – they are 199 points higher at midday at 86.63 cents/lb.

USDA’s 4/22 DSQ reported 1,356 bales sold. The Cotlook A index was a penny higher at 92.20 cents/lb for 4/21. USDA’s FSA raised the AWP for cotton by 2.33 cents to 70.49 cents/lb.  

May 21 Cotton  is at 86.63, up 199 points,

Jul 21 Cotton  is at 88.32, up 227 points,

Dec 21 Cotton  is at 85.08, up 133 points

Market Commentary provided by:

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