Front month cotton prices are up 128 points to 149 points through the midday session.
USDA’s FAS reported 147,795 RBs of cotton was sold for export during the week that ended 11/3. That was down 24% from last week, but was 14% above the same week last year. China was the top buyer with 57.3k RBs. Cotton exports from the week were 108k RBs bringing the MYTD total to 2.774 million. That is up 29% from last year’s pace, though accumulated commitments are only 1.6% higher yr/yr.
The Cotlook A Index was up by 95 points to 103.55 cents/lb. USDA set the week’s Adjusted World Price for cotton at 76.74 cents, an 11.28 cent increase. ICE certified stocks were 880 bales on 11/9.
Dec 22 Cotton is at 87.83, up 145 points,
Mar 23 Cotton is at 85.85, up 129 points,
May 23 Cotton is at 85.04, up 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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