Cotton Ends Mixed at Close

After trading lower at midday, the cotton futures market rebounded to close mixed. Dec and March still closed 15 and 3 points in the red respectively, but the deferreds closed 9 to 31 points higher. The updated USDA cash average price for cotton is 30 points better at 64 cents/lb. The monthly S&D tables showed cotton production is estimated at 17.09 million bales. That was a 40k bale increase from the October forecast via a 2 lb/acre yield bump. USDA has US cotton carryout at 7.2 m bales for a stocks/use of 42.1%. October’s stocks/use was also 42.1% and 19/20 was 31.3% in the November WASDE. Global carryout is estimated at 101.44 million bales, up just 310k mo/mo. USDA’s Cotton Ginnings report showed 3.987 million bales were ginned through November 1st. Through the same time last year, 6.25 million bales had been ginned. Monday cotton sales on The Seam were 8,455 bales for an average gross price of 70.34 cents/lb. The Cotlook A index fell back 80 points to 76.20 cents/lb. The AWP for cotton is 56.01 cents/lb, good through Thursday.

Dec 20 Cotton closed at 69.85, down 15 points,

Mar 21 Cotton closed at 71.65, down 3 points

May 21 Cotton closed at 72.64, up 9 points

Jul 21 Cotton closed at 73.37, up 11 points

--- provided by Brugler Marketing & Management




Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!


Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.