The midday quotes for cotton futures are working lower, with the board mixed and turning red. December is down by a point to 83.23 cents. The other front months are mixed within 10 points of UNCH.Â
Weekly cotton sales from the USDA data were listed as 121,209 RBs. Pakistan was the week’s top buyer with over half of the total. USDA also reported 48,489 RBs of 23/24 cotton sales – mostly to Pakistan. The weekly update showed 209,649 RBs of cotton were shipped through the week, for a season’s total of 2.035 million. That is up 24% from last year’s pace. Cotton commitments are 9% above last season with 8.14m RBs on the books. Â
The 22/23 season began with August cotton shipments of 1.23m bales according Census data. That was the 4th largest start to exports on record.Â
The Cotlook A Index was up by 390 points to 106.70 cents/lb. USDA’s AWP for cotton is 82.42 cents, and will be updated after the close. ICE certified stocks were at 2,109 bales.Â
Dec 22 Cotton  is at 83.27, up 4 points,
Mar 23 Cotton  is at 81.74, unch
May 23 Cotton  is at 80.65, up 3 points
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
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