Cotton futures saw a Turnaround Tuesday bounce, to close out the session 66 to 99 points higher. Crude oil futures are down 9 cents/barrel. The US dollar index was back up $0.503 to $99.900.
Weekly Crop Progress data showed the US cotton crop at 5% planted, which is behind the 3% average pace at 8%. Only AL, AZ, MO, and TN were seen faster than average, with TX 5 percentage points behind average at 8%.
The Seam reported just 863 cash bales sold on 4/14, at an average price of 58.60 cents/lb. The Cotlook A Index was down 20 points on Monday at 78.10 cents/lb. ICE cotton stocks were steady on April 14 with a certified stocks level of 14,478 bales. USDA’s Adjusted World Price (AWP) was back down 212 points last week to 53.10 cents/lb.
May 25 Cotton closed at 65.08, up 99 points,
Jul 25 Cotton closed at 66.12, up 77 points,
Dec 25 Cotton closed at 67.6, up 66 points
