Cotton Bounce on Turnaround Tuesday

Cotton futures settled with 46 to 131 point gains in most contracts on Turnaround Tuesday. Crop Progress data on Monday showed TX planting progress at 19% on Sunday, 4% behind the average, with GA at 42%, 10% faster than normal. IEG Vantage estimates that US cotton producers will plant 14.1 million acres of cotton, 335,000 acres larger than USDA at the end of March. The Cotlook A index for May 10 was down 170 points from the previous day to 79.00 cents/lb. The weekly Average World Price (AWP) is now 64.65 cents/lb, down 3.62 cents from last week.

Jul 19 Cotton closed at 66.760, up 131 points,

Oct 19 Cotton closed at 67.460, up 81 points

Dec 19 Cotton closed at 66.990, up 59 points

--provided by Brugler Marketing & Management




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