Cotton added 116 to 182 points to the upside on Friday after a brief pause for the WASDE numbers. That kept the board under the high on Tuesday, but ended as a weekly gain of 253 points.
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.
USDA’s weekly Cotton Market Review had 6,574 bales sold for an average price of 86.56 cents. 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 closed at 88.2, up 182 points,
Mar 23 Cotton closed at 86.33, up 177 points,
May 23 Cotton closed at 85.56, up 159 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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