Cotton Mostly Higher on Tuesday

Cotton futures are 43 to 70 points higher in the front months on Tuesday, with thinly traded Oct down 69 points. President Trump this morning tweeted that he and President Xi of China will have an “extended meeting next week at the G-20,” with trade talks to begin prior to their meeting. NASS reported that US cotton acres were 89% planted by Sunday, 5% behind the normal pace. The crop was 19% squared on that date, 1% ahead of normal. Condition ratings were up 5% to 49% gd/ex, with the Brugler500 index up 8 points to 337. Planting in TX progressed to 86%, with ratings back up 9 points to 322. OK planting was at just 64% complete. The Cotlook A index for June 17 was down 75 points from the previous day to 77.05 cents/lb. The weekly Average World Price (AWP) from USDA is 58.97 cents/lb through next Thursday, down 2.54 cents from last week.

Jul 19 Cotton is at 66.06, up 43 points,

Oct 19 Cotton is at 66.37, down 69 points

Dec 19 Cotton is at 67.12, up 70 points

Mar 20 Cotton is at 67.480, up 61 points

--provided by Brugler Marketing & Management

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