Cotton prices are working with AM losses of 108 to 127 points so far for Friday. At the Thursday close futures were 18 to 89 points lower, extending the big decline from Wednesday. The 2023 crop closed 29 points higher in December, for a new Dec to Dec spread of 2.68 cents/lb. The market still has a 14 point inverse from Dec ’22 to March ’23.Â
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 cotton shipments were 165,741 RBs, for an accumulated 2.369m RBs. That compares to 1.853m RBs shipped at this time last year.Â
The Seam reported 476 bales were sold online on 10/19 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 FSA lowered the AWP for cotton by 3.69 cents to 73.76 cents/lb. ICE certified stocks from 10/19 were 880 bales.Â
Dec 22 Cotton  closed at 77.4, down 89 points, currently down 118 points
Mar 23 Cotton  closed at 77.26, down 71 points, currently down 114 points
May 23 Cotton  closed at 77.04, down 39 points, currently down 107 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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