By Jon Devine
National Cotton Council
Movement in cotton benchmarks was mixed over the past month.
Despite relatively wide intraday changes, movement in the March NY/ICE contract, values were constrained within the range between 79 and 89 cents/lb that has held them since early November.
Prices for the December NY/ICE 2023 contract, reflecting market expectations for the 2023/24 crop year, have followed a gentle upward trend defined by a series of higher lows. That trend pulled prices up from 75 cents/lb in early November to values over 80 cents/lb.
The A Index was stable over the past month, holding to levels near 100 cents/lb.