Cotton Prices Lower at Midday

Front month cotton futures are trading 7 to 23 points lower at midday. USDA’s Export Sales data showed 143,291 RBs of cotton was booked on the week ending 9/17. That was split 92.7k MT for 2020/21 and 50.6k MT for 21/22. Accumulated cotton commitments through the first 7 weeks of the MY were 7.72m RBs. That is down 8% yr/yr. Commitments to China are 40% of the total with 3.12m RBs. USDA reported 2,985 bales were sold at spot, almost exclusively from W. TX, at an average price of 59.64 cents/lb. The Cotlook A index was 15 points higher for Sept 23, at 70.85 c/lb. The AWP for cotton is 50.88 cents/lb. The LDP is at 1.12 cents. They will be updated this afternoon by USDA.

Oct 20 Cotton is at 63.76, unch

Dec 20 Cotton is at 65.16, down 9 points

Mar 21 Cotton is at 65.95, down 19 points

May 21 Cotton is at 66.74, down 19 points

--- provided by Brugler Marketing & Management

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