Cotton Pulling Back Following Monday Limit Up Move

Austin Schroeder Barchart Tue Sep 17, 7:31AM CDT
Cotton via Jeff Hutcheson via Unsplash

Cotton prices are back down 50 to 79 points so far on Tuesday morning. Futures posted limit gains of 300 points across the front months on Monday. The dollar index was down 485 points so far, with crude oil futures up $1.85/barrel. 

Weekly Crop Progress data tallied 54% of the US cotton crop with bolls opening by 9/15, 4% ahead of the 5-year average. Harvest was running 2 percentage points faster than average at 10%. Cotton conditions were 39% in good/excellent categories, down 1% from last week. The Brugler500 index improved 2 points to 308, as the poor/very poor ratings were down 2%.

The Seam ported 546 online cash cotton bale sales on Thursday, averaging 62.64 cents/lb. ICE cotton stocks were unchanged on September 13, leaving 265 bales of cert stocks. The Cotlook A Index was up 85 points on September 13 at 81.95 cents/lb. The USDA Adjusted World Price (AWP) was slashed by 127 points last week to 56 cents/lb. It is good through this Thursday.

Dec 24 Cotton  closed at 72.82, up 300 points, currently down 73 points

Mar 25 Cotton  closed at 74.24, up 300 points, currently down 74 points

May 25 Cotton  closed at 75.25, up 284 points, currently down 68 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.