Cotton Future Gain With Help From Weak Dollar

Cotton futures are up 17 to 105 points this morning, extending gains. Turnaround Tuesday trading in cotton futures left prices 102 to 168 points higher. New crop gains were smaller, as the old to new crop inverse widened to 36 points.  A weaker US dollar index made cotton attractive to buyers who float their currency against the dollar. Gold futures were higher, as was Bitcoin. US stock markets were mixed in their opinion about the economy, with the S&P and Russell higher, but the Dow in minus territory.

USDA’s Daily Spot Quotations report showed just 874 bales sold in the 4/13 report. The Cotlook A index was another penny stronger on 4/12 to 89.5 cents/lb. The AWP for cotton is 64.92 cents/lb. through Thursday.

May 21 Cotton  closed at 81.82, up 168 points: now up 105,

Jul 21 Cotton  closed at 83.19, up 168 points: now up 103,

Dec 21 Cotton  closed at 81.46, up 102 points: now up 43

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