Cotton

Cotton futures are sharply lower at midday with most contracts 136 to 140 points lower. This morning’s USDA Export Sales report showed all upland cotton sales nearing the MY low, reported at 67,684 RB for old crop. That is 85.19% lower than what was reported last year at this time and a 75.39% reduction from the previous week. Reductions from Bangladesh (98,300 RB) and China (27,800 RB) was the main cause for the low sales total. The Adjusted World Price was updated by USDA to 75.30 for the week that ends next Thursday, up 85 points from the previous week. Online cash sales on the Seam totaled 13,854 bales on Wednesday, with prices up 457 points, averaging 72.39 cents/lb. The Cotlook A index on January 25 was UNCH at 92.85 cents/lb.

Mar 18 Cotton is at 80.49, down 139 points,

May 18 Cotton is at 81.22, down 136 points

Jul 18 Cotton is at 81.66, down 140 points




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