Barchart: Cotton Bulls Gather Strength on Wednesday

Barchart: Cotton Bulls Gather Strength on Wednesday

Alan Brugler 

Cotton futures action saw gains of 31 to 44 points on Wednesday. The US dollar index was up another 197 points on the day, as Crude oil provided some support via the synthetic market, up $2.22/barrel.

ICE cotton stocks were unchanged on August 6, leaving 18,991 bales of cert stocks. The Cotlook A Index was down 50 points on August 6 at 79.10 cents/lb. The USDA Average World Price (AWP) was cut by 108 points last Thursday afternoon to 53.94 cents/lb, and is in effect through this Thursday.

Dec 24 Cotton  closed at 67.73, up 43 points,

Mar 25 Cotton  closed at 69.25, up 30 points,

May 25 Cotton  closed at 70.47, up 30 points

Source: barchart.com
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