Cotton is trading with midday losses of 169 to 291 points. Crude oil CL*1 is off the lows for midday, but still down by 58c/bbl.
Chinese Customs data had 90k MT of cotton imported during September. That is 19.4% above their Sep ’21 import. Through the first 9 months of 2022, China has brought in 1.46 MMT of cotton – compared to 1.853 MMT during 2021.
The Cotlook A index for 10/21 was 80 points lower to 95 cents flat. USDA’s weekly Cotton Market Review showed 2,180 bales were sold last week at an average price of 81.70 cents/lb. USDA’s AWP for cotton is 73.76 cents/lb. ICE certified stocks from 10/20 were 880 bales.
Dec 22 Cotton is at 76.44, down 269 points,
Mar 23 Cotton is at 76.06, down 249 points,
May 23 Cotton is at 76.04, down 211 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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