Cotton #2 Futures Market News and Commentary
Cotton futures were down on Friday with front month losses of 24 to 64 points. The March contract completed the week’s move with a 157 point pullback.
USDA’s weekly Cotton Market Review showed 35,889 bales were sold with an average price of 75.04 cents/lb.
The weekly Export Sales report showed 217,662 RBs of cotton was booked during the week that ended 11/23. That was a 5-wk low, with Vietnam listed as the top buyer. USDA had 88,846 RBs shipped during the week, for a season total of 2.32 million RBs. Total cotton commitments reached 7.8 million RBs, compared to 8.7m at the same time last year.
The Cotlook A Index for 11/29 was 25 points stronger to 89.70 cents. The AWP was 105 points stronger to 64.18 cents/lb. ICE certified stocks stand at 87,769 bales.
Dec 23 Cotton is at 79.48, up 8 points,
Mar 24 Cotton is at 79.88, down 18 points,
May 24 Cotton is at 80.56, down 14 pointsOn the date of publication, Alan Brugler did not have (eith... Read more
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