Cotton Futures 3 to 9 Points Higher in Early Friday Trade

The last day of April begins with cotton prices 3 to 9 points higher. At the Thursday close, front month cotton futures were 198 to 298 points in the red.

The weekly Export Sales data release showed 77,060 RBs of cotton was sold during the week ending 4/22. That was down 25% from last week, but well above the 15k RBs booked during the same week last season. USDA showed another 341,909 RBs were shipped through the week, marking the 9th consecutive +300k RB week. That brought the season’s accumulated shipments to 10.983m RBs, which remains at record pace.

New crop cotton bookings were 16,255 RBs bringing 2021/22’s forward book to 1.673m RBs. That is the lowest forward book for this time since 1.153m ahead of the 16/17 season.

The Cotlook A index was another 180 points higher to 96.90 cents/lb on 4/28. The new AWP for cotton is 73.71 cents/lb after USDA hiked it 3.22 cents on Thursday.

Jul 21 Cotton  closed at 86.54, down 298 points, and is up 3 this morning

Dec 21 Cotton  closed at 83.84, down 223 points, and is up 9 this morning

Market Commentary provided by:

Brugler Marketing & Management LLC
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