Cotton Trading In Red

Friday cotton trading has futures 4 to 30 points weaker in the front months at midday. December cotton options expire today. USDA’s Veteran’s Day delayed Export Sales report showed 236,760 RBs of cotton booked on the week ending 11/5. That was more than double last week’s and 43% above the same week last year. Outstanding sales are behind 19/20’s levels for week 14 with 5.611m unshipped. The 3.49m RBs of accumulated shipments are, however, up 41% yr/yr, leaving total commitments just 5% behind 19/20 at 9.1m RBs. USDA’s Spot Quotations report showed 3,264 bales were sold at spot on the 12th, for an average price of 64.37 cents. The Cotlook A index was 77.35 c/lb after a 25 point dip. The week’s new AWP for cotton is 56.71 cents/lb, after a 70 point bump this week.

Dec 20 Cotton is at 68.44, down 4 points,

Mar 21 Cotton is at 70.41, down 21 points

May 21 Cotton is at 71.31, down 25 points

Jul 21 Cotton is at 72, down 28 points

--- provided by Brugler Marketing & Management

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