Cotton Market Higher to Begin Thursday

Cotton futures are trading 24 to 35 points higher this morning. Cotton ended Wednesday off the lows, but still down 1 to 15 points. Official US September cotton exports were 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 2,767 bales at an average gross price of 69.73 cents/lb. USDA’s Cotton Spot Quotations update for 11/4 showed 3,918 bales sold for an average 65.66 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, and will be updated later today.

--- provided by Brugler Marketing & Management




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