Cotton #2 Futures Market News and Commentary
Thursday cotton futures were 5 to 39 points stronger on the day. Cotton export sales were net negative by 68,537 RBs for old crop. Some rolling activity occurred as new crop sales were 130,762 RBs. Total forward sales are sitting at 3.68m RBs through July 30. Of the total forward bookings, 35% is to China. WTD sales reported on The Seam were 47,332 bales at a wtd av price of 56.99 cents/lb. Certified stocks are firm at 6,800 bales as of August 4. The Cotlook A index was steady at 70.35 cents/lb on Aug 5. The updated AWP for cotton is 1.73 cents higher to 49.44 cents/lb. The week’s new LDP is 2.56 cents/lb.
Oct 20 Cotton closed at 64.41, up 5 points,
Dec 20 Cotton closed at 64.85, up 39 points
Mar 21 Cotton closed at 65.49, up 36 points
May 21 Cotton closed at 65.89, up 38 points
--- provided by Brugler Marketing & Management