Cotton Closes Higher on Wednesday
After trading firm on either side of UNCH at midday, cotton found strength in the afternoon and ended 43 to 44 points higher. Nearby March is 5 points stronger to 81.20 cents/lb. May and October contracts are UNCH, and new crop Dec is down 27 points. Chinese cotton futures closed the 19th at 15,205 yuan/MT, or about $1.06/lb. USDA’s classing data as of Friday the 15th showed 338,578 upland cotton bales were classed on the week. MYTD all cotton classings hit 13.38m bales. USDA’s Daily Spot Quotations reported 8,807 bales sold on 1/20, for an average price of 77.45 cents. The Cotlook A index was firm at 87.10 on 1/19. The week’s AWP for cotton is 66.23 cents/lb.
| Mar 21 Cotton closed at 81.59, up 44 points, |
| May 21 Cotton closed at 82.5, up 43 points |
| Jul 21 Cotton closed at 83.28, up 44 points |
| Dec 21 Cotton closed at 77.95, up 26 points |
--- provided by Brugler Marketing & Management
