Cotton Rallying Triple Digits

Monday cotton trading is pushing futures 142 to 145 points higher at midday. The dollar is weaker so far, down against the yuan and yen and firm against the Euro. The stock market is higher as Moderna also released positive data about their COVID-19 vaccine trials. The market is looking forward to likely vaccine availability before year end, and anticipating a strong economic rebound in 2021. Last week’s sales on the online cotton trading platform The Seam were 20,334 bales for a weighted average price of 67.68 cents/lb. The Cotlook A index was 76.65 c/lb after another 70 point dip. This week’s AWP for cotton is 56.71 cents/lb.

Dec 20 Cotton is at 69.91, up 145 points,

Mar 21 Cotton is at 71.83, up 143 points

May 21 Cotton is at 72.72, up 145 points

Jul 21 Cotton is at 73.38, up 142 points

--- provided by Brugler Marketing & Management

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