Cotton Backs Off

Cotton futures are trading 52 to 77 points lower this morning. December cotton futures were 16 points weaker at the end of trading on Thursday. The other nearby cotton futures closed a point to 16 points higher through Oct ’21. Cotton export sales were reported as 171,261 RBs, split 116k RBs for 2020/21 delivery and 56k NMY. MYTD cotton commitments total 8.865 million running bales, which is down 6% yr/yr. Wednesday cotton sales on The Seam were 4,686 bales at an average gross price of 67.04 cents/lb. WTD sales are 7,947 bales at a wtd av price of 67.95 cents/lb. The Cotlook A index recovered 140 points to 77 cents flat. USDA’s FSA lowered the week’s AWP for cotton 136 points to 56.01 cents/lb.

--- provided by Brugler Marketing & Management

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