Cotton Lower on Turnaround Tuesday

Cotton futures are showing 36 to 118 point losses in the front months on Turnaround Tuesday. USDA reported cotton planting progress at 71% complete, vs. the 72% average and 74% last year. The crop was also reported at 8% squared, vs. the normal pace of 7%. TX progress showed 64% planted as of Sunday, with GA at 84%, both slightly ahead of normal. Initial condition ratings were at 46% gd/ex, as the Brugler500 was at 338, vs. 329 for the same week last year. TX ratings were at 331 and GA at 336. The Cotlook A index for May 231 was down 125 points from the previous day to 79.10 cents/lb. The weekly Average World Price (AWP) is 61.31 cents/lb through Thursday.

Jul 19 Cotton is at 68.64, down 78 points,

Oct 19 Cotton is at 68.21, down 36 points

Dec 19 Cotton is at 66.85, down 112 points

Mar 20 Cotton is at 67.490, down 118 points

--provided by Brugler Marketing & Management

Market Commentary provided by:

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