Cotton 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,
Jul 25 Cotton closed at 67.22, up 40 points,
Dec 25 Cotton closed at 68.71, up 41 points
