Cotton Holds Higher on Monday

Austin Schroeder Barchart Mon May 5, 5:09PM CDT
Cotton field by Jim Black via Pixabay

Cotton futures closed out Monday with contracts steady to 30 points higher. Crude oil prices were under pressure, down $1.05 as OPEC+ announce another 411,000 barrel per day increase in June. The US dollar index was down $0.240 to $99.600.

Crop Progress data showed 21% of the US cotton crop planted as of 5/4, faster than the 20% average planting pace. That does lag the 23% pace from last year. 

The 5/2 online auction from The Seam showed sales of 1,133 bales at an average price of 60.17 cents/lb. The Cotlook A Index was down 25 points on Friday at 77.25. ICE cotton stocks were unchanged on May 2 with a certified stocks level of 14,577 bales. USDA’s Adjusted World Price (AWP) was up 6 points last week to 54.94 cents/lb. It is in effect through this Thursday.

May 25 Cotton  closed at 70.35, up 17 points,

Jul 25 Cotton  closed at 68.42, up 1 points,

Dec 25 Cotton  closed at 69.98, up 27 points


On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.