Cotton

Cotton futures posted triple digit gains in most nearby contracts on Thursday. All upland cotton old crop export sales of 326,520 RB were reported by the USDA this morning. That was larger than expectations, as sales rose 25.75% from last week and were 18.02% larger than this time in 2016. China bought 61,000 RB, with Indonesia purchasing 52,600 RB. New crop sales of upland came in at 31,862 RB, as Pima sales were reported at 11,200 RB. Shipments of upland cotton were reported at 148,200 RB, lagging this time last year by 29.5% and 11.03% lower than last year. The USDA Adjusted World Price was updated to 68 cents/lb, 205 points higher than the previous week. The Cotlook A index was 20 points lower from the day prior on December 20 to 85.75 cents/lb.

Mar 18 Cotton closed at 77.940, up 223 points,

May 18 Cotton closed at 77.960, up 184 points

Oct 18 Cotton closed at 74.940, up 114 points




Market Commentary provided by:

Brugler Marketing & Management LLC
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