Cotton prices are rallying at midday with 84 to 86 point gains. Many contracts are posting new life of contract highs. The dollar index is trading at a 4 session low following a blitz of spending and regulatory announcements on the first day of the Biden administration. USDA’s Daily Spot Quotations reported 8,807 bales sold on 1/20, for an average price of 77.45 cents. ICE certified stocks were 2,018 higher on Jan 19 to 68,631 bales. The Cotlook A index half a cent higher to 87.60 cents/lb. The week’s AWP for cotton is 66.23 cents/lb.
Mar 21 Cotton is at 82.43, up 84 points, |
May 21 Cotton is at 83.36, up 86 points |
Jul 21 Cotton is at 84.13, up 85 points |
Dec 21 Cotton is at 78.78, up 83 points |
--- provided by Brugler Marketing & Management