The cotton market is trading 62 to 145 points this morning as May expires today. Futures had an inside day on Tuesday, but settled higher. Contracts closed with 30 to 49 point gains across most delivery months, despite negative outside factors and faster than normal planting pace. The US dollar index was up 341 points, a negative input, while crude oil was 22 cents lower.

The US cotton crop was reported at 24% planted as of Sunday, a 9% advance over the last week. The 5 year average planting pace for the crop is 20% complete by May 5, according to USDA/NASS. Of the major cotton acreage states, TX was 3% faster than normal at 24%, with GA 4% ahead at 21%.

ICE certified cotton stocks were down 1,320 on May 6 at 184,790 bales. The Cotlook A Index was down 30 points on May 3 at 83.25 cents/lb. The AWP dropped another 78 points to 60.55. 

May 24 Cotton  closed at 77, up 44 points, currently unch

Jul 24 Cotton  closed at 77.5, up 44 points, currently 145 points

Dec 24 Cotton  closed at 75.75, up 44 points, currently 89 points