Midday cotton prices are mixed within 50 points of UNCH. The December contract is down the most, but still a premium to the other front months. May and July contracts are firmer with July showing gains at midday. The Dec to July spread is a 125 point premium in Dec.
The weekly FAS data had 84,471 RBs of cotton sold for export during the week that ended 10/13. That was down 42% from the week prior and was down 79% yr/yr. Weekly shipments were 165,741 RBs, for an accumulated 2.369m RBs. That compares to 1.853m RBs shipped at this time last year.
The Seam reported 315 bales were sold online on 10/18 for an average gross price of 84.75 cents. The Cotlook A index for 10/19 was down 115 points to 99.80 cents/lb. USDA’s AWP for cotton is 77.45 cents/lb, and will be updated after the close. ICE certified stocks from 10/14 were 880 bales.
Dec 22 Cotton is at 77.76, down 53 points,
Mar 23 Cotton is at 77.72, down 25 points,
May 23 Cotton is at 77.41, down 2 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.
/Broadcom%20Inc%20logo%20on%20building-by%20Poetra_%20RH%20via%20Shutterstock.jpg)
/A%20concept%20image%20of%20a%20flying%20car_%20Image%20by%20Phonlamai%20Photo%20via%20Shutterstock_.jpg)
/Tesla%20Inc%20logo%20by-%20baileystock%20via%20iStock(1).jpg)