Cotton Lower during Election Digestion

Cotton futures are trading 12 to 32 points lower as the last of the ballots are tallied. Presidential results are still in question for 6 states due to high turnout and varying deadline rules. Official September cotton exports were recorded at 923,987 bales. That was seasonally down 45% from August, but the largest Sept export program since 08/09. Through the first two months of official data, cotton shipments total 16.1% of USDA’s October full year forecast. At this point last year shipments were 11% of the October forecast. Monday cotton sales on The Seam were 494 bales at an average gross price of 66.65 cents/lb. USDA’s Cotton Spot Quotations update showed 1,686 bales sold 65.67 cents/lb. The Cotlook A index fell another 15 points to 75.60 cents/lb on 11/03. The AWP for cotton is 57.37 through Thursday.

Dec 20 Cotton is at 70.2, down 4 points,

Mar 21 Cotton is at 71.16, down 4 points

May 21 Cotton is at 71.87, down 13 points

Jul 21 Cotton is at 72.38, down 32 points

--- provided by Brugler Marketing & Management

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