Cotton Prices Surge in Early Monday Action

Monday cotton trading starts with prices sharply higher. Futures are up 184 to 349 point, excluding the rapidly dying March contract.  On the last Friday of February, front month cotton futures were 42 to 86 points weaker. March and May still rallied 7.14 and 6.9 cents respectively for the month of Feb. CFTC weekly data as of 2/23 showed cotton spec traders were 3,886 contracts more net long, to 72,454 contracts. That was their biggest long since August 2018.

USDA’s Weekly Cotton Market review stated the week’s 86.90 cent/lb average price was the highest since 90.27 for the week ending 6/14 of 2018. The report showed 16,250 bales were sold at spot on the week ending 2/25. The Cotlook A index for 2/25 was 98.5 cents/lb, up another 98 points. The AWP for cotton is 75.76 cents/lb, effective through Thursday.

--- provided by Brugler Marketing & Management




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