Cotton Down Triple Digits
Midweek cotton futures are trading with triple digit losses of 242 to 243 points so far. New crop contracts are 174 points weaker with Dec near 84.71 cents. ICE reported 10 new deliveries issued against March cotton futures, bringing the MTD deliveries to 91 (Wells Fargo stopping 69 of them).
The online cotton trading platform The Seam reported 5,381 bales sold on March first for an average gross price of 85.51 cents. USDA’s Daily Spot Quotations report for 3/2 had 4,791 bales sold at spot. ICE certified stocks were bales lighter on 3/1 to 99,789. The Cotlook A index for 3/2 was back up 240 points to 96.75 cents/lb. The AWP for cotton is 75.76 cents/lb.
--- provided by Brugler Marketing & Management
