Cotton Market Cautiously Higher on Average Planting Pace

Cotton futures are trading 4 to 22 points higher this morning. On Tuesday, most contracts were 67 to 118 points higher. Rains in the South and warm dry weather in the Southeast was supportive. The one day delayed Crop Progress report indicated that 57% of the US crop had been planted as of Sunday, just about matching the normal pace at 58% and last year at 61%. The Cotlook A index for May 24 was up 75 points from the previous day to 78.50 cents/lb. The weekly Average World Price (AWP) is now 59.37 cents/lb, down 14 points from last week.

--provided by Brugler Marketing & Management




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