Cotton Rallying Early on Wednesday

Austin Schroeder Barchart Wed Apr 23, 7:34AM CDT
Rolls of cotton thread by Marina Ermakova via Unsplash

Cotton prices are trading with 88 to 139 point gains so far on Wednesday morning. Futures posted Tuesday gains of 20 to as much as 127 point gains on Tuesday, led by the thinly trade May contract. Crude oil futures were back up $1.13/barrel, with the US dollar index back up $0.701 to $98.690. 

NASS pegged the US cotton crop at 11% planted as of 4/20, now in line with the 5-year average pace. Texas planting was pegged at 16%, on par with the normal pace, with GA at 3% complete (vs. 4% on average).

The Seam reported 1,838 cash bales sold online on 4/21, at an average price of 61.08 cents/lb. The Cotlook A Index was back up 35 points on Friday at 77.60 cents/lb. ICE cotton stocks were steady on April 21 with a certified stocks level of 14,478 bales. USDA’s Adjusted World Price (AWP) was back up 33 points last Thursday to 53.43 cents/lb. 

May 25 Cotton  closed at 67.04, up 127 points, currently up 139 points

Jul 25 Cotton  closed at 67.22, up 40 points, currently up 113 points

Dec 25 Cotton  closed at 68.71, up 41 points, currently up 82 points


On the date of publication, Austin Schroeder 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.