Cotton Sharply Higher on Monday

Cotton futures posted 79 to 112 point gains on Monday. Front month futures hit an 18-month high of 72.70 earlier on the session. Monday was first notice day for December cotton futures. USDA’s Crop Progress report indicated that cotton harvest was 77% complete as of Sunday, up 8% on the week and 6% faster than the 5-year average. Harvest was 14% faster than normal in TX at 74% complete. The Seam had a large 27,429 bales traded on Friday at an average price of 69.68 cents. The Cotlook A index was down 25 points to 77.90 cents/lb as of November 20. The AWP for cotton is 56.84 cents/lb.

DEC 20 Cotton closed at 72, up 112 points,
MAR 21 Cotton closed at 73.75, up 79 points
MAY 21 Cotton closed at 74.6, up 81 points
JUL 21 Cotton closed at 75.2, up 80 points

--- provided by Brugler Marketing & Management 

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