Market Analytics and Considerations
Key Notes
After yesterday’s rebound, cotton futures have fallen 65 to 87 points so far. Due to March’s closing 76 points underneath the day’s top, the Reversal Tuesday session left some money on the table.
Prices throughout the front months have still been up by 190 to 224 points. The FOMC is presently in session, and this afternoon they will unveil changes to the Federal Funds rate. The Dollar Index declined by 1.1% yesterday and is now dropped by 10 points.
On 12/12, the Cotlook A Index dropped by 10 points to 98.8 cents. The AWP for the week is 75.17 c/lb as of Thursday. On 12/12, there were 8,901 bales of ICE Verified Stocks.
- Cotton ended on March 23 at 81.63, up 224 points, but is currently down 87 points.
- Cotton ended at 81.67 on May 23, up 219 points; it is now down 84 points.
- Cotton ended at 81.57 on July 23, up 216 points; it is now down 73 points.
