Cotton

Cotton futures closed Thursday with most contacts showing triple digit gains. End of month profit taking took cotton down early in the week, and first of month buying boosted it today. Support came from a lower US dollar and a positive Export Sales report. Upland cotton sales during the week of Jan 25 were more than 4 times larger than the week prior at 303,345 RB. That was 7.72% lower than the same week last year, as Vietnam bought 78,200 RB with Turkey purchasing 64,900 RB. The afternoon USDA cotton consumption report showed 1,715 RB of cotton was consumed in the US during December, well below last year. The USDA Adjusted World Price was updated to 71.35 cents/lb today, down 395 points from the previous week. The Cotlook A index on January 31 was at 87.60 cents/lb, down 125 points from the previous day.

Mar 18 Cotton closed at 78.350, up 107 points,

May 18 Cotton closed at 79.450, up 109 points

Jul 18 Cotton closed at 80.240, up 119 points




Market Commentary provided by:

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