Cotton Market Down 69 to 103 To Begin Monday

Cotton futures are trading 69 to 103 lower this morning. They posted 120 to 136 point losses in most contracts on Friday, as July was down 11.34% during May. The dollar was weaker overnight. As of Tuesday, Spec traders in Cotton futures and options backed off their record net short position by 1,882 contracts to -35,204 contracts. Cotton export sales in the week that ended on May 23 were tallied at 288,732 RB for old crop. The lead buyer was Vietnam of 120,700 RB, with India at 77,700 RB. New crop sales totaled 136,212 RB, with Mexico buying 23,600 RB and China at 15,400 RB. The Cotlook A index for May 28 was down 50 points from the previous day to 80.10 cents/lb. The weekly Average World Price (AWP) is 61.31 cents/lb through Thursday.

--provided by Brugler Marketing & Management

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