Cotton Continue Weakness into Close

Alan Brugler Barchart Wed May 1, 5:02PM CDT
Cotton fabric with texture

Cotton futures are down 37 to 211 points across the board at the close. Crude Oil was feeling the pressure, below $80 per barrel on the day, $2.77 lower. The Fed showed no changes to rates after their 2 day meeting this afternoon, and stated they need to see inflation get under control before cutting rates. The US dollar index fell 560 points on the day after the release. 

USDA’s Cotton Systems report showed 758 RB cotton consumed by US mills in March, up 48.6% from last year but 25.9% below the Feb use total. Stocks were at 1,307 RB, the lowest for March going back 2015.

ICE certified cotton stocks were up 555 bales on April 30 at 183,114 bales. The Cotlook A Index was up 55 points on April 30 at 88.30 cents/lb. The AWP dropped another 85 points to 61.33 last Thursday and is in effect through tomorrow.

May 24 Cotton  closed at 75.81, down 211 points,

Jul 24 Cotton  closed at 76.51, down 192 points,

Dec 24 Cotton  closed at 75.17, down 166 points


On the date of publication, Alan Brugler 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.