Cotton Market Down As Much as 103 on Slower Exports

Cotton futures are trading 69 to 103 points lower at midday on a little pre-holiday profit taking. The markets will be closed on Friday. The US dollar is stronger this morning. USDA reported old crop upland cotton export sales were down 25% from the previous week at 217,600 RB, with 20,600 RB booked for 2019/20. Cotton exports in February were tallied at 1.484 million bales according to Census data. That was 21.55% larger than January, which is a typical seasonal rise, but 25.09% lower than Feb 2018. The Cotlook A Index was up 150 points at 87.75 on April 17. The weekly Average World Price (AWP) is 69.21, 99 points higher than the previous week and effective through Thursday for USDA program purposes. The 18/19 Brazilian cotton crop is expected to be the largest since 14/15 according to Celeres, at 2.5 MMT. USDA ag attach reports suggest that Chinese cotton imports will rise 200,000 MT to 2.0 MMT in 2019/20 and that Egyptian imports will rise 2% for the same year due to sharply reduced 2019 plantings.

May 19 Cotton is at 77.14, down 97 points,

Jul 19 Cotton is at 77.93, down 103 points

Dec 19 Cotton is at 76.72, down 69 points

--provided by Brugler Marketing & Management




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