Cotton Firm at Midday

After a wide ranged session on Friday led to little change at the close, Monday’s midday board shows another huge 400+ point range with prices now mixed within 10 points of UNCH. 

FAS Export Sales data for the week that ended 10/7 showed a 6 week low of 146,653 RBs of cotton was booked. Total commitments were 7.62m RBs, which is down 7.5% from last season’s pace.

USDA’s weekly Cotton Market Review noted 12,723 bales were sold at spot through the week that ended 10/14 at an average price of 104.35 cents. The Cotlook A index was another 315 points higher on 10/18, up to 116.20 cents. The AWP for cotton is 92.88 cents/lb. 

Dec 21 Cotton  is at 106.91, down 42 points,

Mar 22 Cotton  is at 104.81, down 19 points,

May 22 Cotton  is at 103.85, down 12 points




Market Commentary provided by:

Brugler Marketing & Management LLC
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