Cotton Reverting Lower at Midday

Cotton fabric with texture

Cotton futures are reversing the early morning gains so far at midday, with futures down 20 to 137 points across the front months. Hurricane Beryl made landfall this morning and is expected to bring along precip amounts of up to 8” in parts of TX before the remnants move north toward MO and IL.

ICE certified cotton stocks were left alone on July 5 at 53,790 bales. The Cotlook A Index was down unchanged on July 5 at 82.75 cents/lb. The USDA Average World Price (AWP) was cut by 43 points last week to 57.80 cents/lb on Friday morning. It is effective through this Thursday.

Jul 24 Cotton  is at 67.31, down 137 points,

Dec 24 Cotton  is at 70.77, down 21 points,

Mar 25 Cotton  is at 72.51, down 20 points

On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.