Cotton Starts Thursday with a Rebound

Austin Schroeder Barchart Thu Sep 19, 7:24AM CDT
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Cotton prices are showing 46 to 48 point higher trade on Thursday morning. Futures posted Wednesday losses of 34 to 113 points at the close. The dollar index was back up 58 points by the close, with crude oil futures $1.08/barrel lower. The Fed released their rate cut this afternoon, slashing it by 50 basis points, on the higher side of where most had expected. 

The Seam reported 1,096 online cash cotton bale sales on September 17, averaging 65.48 cents/lb. ICE cotton stocks were unchanged on September 17, leaving 265 bales of cert stocks. The Cotlook A Index was back up 300 points on September 17 at 84.45 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 71.27, down 89 points, currently up 48 points

Mar 25 Cotton  closed at 72.99, down 70 points, currently up 47 points

May 25 Cotton  closed at 74.14, down 61 points, currently up 46 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.