Cotton futures closed out Tuesday with a nearby bounce, as front months were up 11 to 27 points, with some deferred contracts down 1 to 8 points. The outside markets were again supportive, as the US dollar index was down 86 points, with crude oil futures up another 34 cents/barrel.
Weekly Crop Progress data indicated the US cotton crop was 77% harvested as of 11/17, 5 percentage points faster than normal.
The Seam reported 1,283 bales of online sales on November 18 at an average price of 63.43 cents/lb. ICE cotton stocks were up 87 bales on new certifications on Monday, at 13,274 bales of certified stocks. The Cotlook A Index was down 150 points on 11/18 at 79.35 cents/lb. The USDA Adjusted World Price (AWP) was back up 24 points last week to 58.20 cents/lb.
Mar 25 Cotton closed at 69.25, up 23 points,
May 25 Cotton closed at 70.5, up 15 points,
Jul 25 Cotton closed at 71.68, up 11 points
