Another session of triple digit losses left cotton futures below their June lows. The front month futures were down by 92 to 155 points. The Dec ’24 contract is now at an 82 point premium to spot Dec.
Monthly Census data showed cotton exports were 654k bales in September. That was a 37% drop from the month prior, and compares to 732k bales during Sep ’22.
The Crop Progress report showed 95% of bolls were open. Harvest had advanced 8% points to 57% finished nationally. The average pace would be 55% finished. Harvest in TX had advanced 4% points to 47% finished and GA was listed at 46% harvested.
The Cotlook A Index stayed UNCH at 91.8 cents/lb for 11/6. The AWP for cotton is 68.11 cents/lb. ICE Certified Stocks were 81,932 bales as of 11/06.
Dec 23 Cotton closed at 76.48, down 152 points,
Mar 24 Cotton closed at 79.37, down 155 points,
May 24 Cotton closed at 80.49, down 151 points
Πηγή: barchart.com