Cotton Futures Mixed at Midday

Front month cotton futures are down 10 points in old crop July contracts. New crop cotton prices are trading 4 to 20 points higher so far, tightening the inverse. The July to December cotton futures spread is still 1.22 cents at midday.

Census data showed US March cotton shipments were 1.637m bales. That was up 4% from February, but down from 2.003 million bales in March 2020. Accumulated cotton shipments were 11.12m bales which remains at record pace for the marketing year. The previous record was 10.75m bales through March during the 2010/11 campaign.

USDA’s 5/2 DSQ showed 892 bales were sold at spot, mostly in the N. Delta. The 5/4 Cotlook A index was up 115 points to 93.05 cents/lb. The AWP for cotton for the week is 73.71 cents/lb, and will be updated after tomorrow’s close.     

Jul 21 Cotton  is at 87.07, down 10 points,

Oct 21 Cotton  is at 86.71, up 4 points,

Dec 21 Cotton  is at 85.23, up 17 points

Market Commentary provided by:

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