Cotton futures ended the session down by their 4 cent limit in both the Dec and March contracts. The other nearbys closed 346 to 392 points lower, with new crop Dec 249 in the red. Crude oil spiked lower on OPEC production concerns, but had recovered for a $0.07/bbl loss on the day. The dollar ($DXY) ended the day 906 points higher to 107.732.
The weekly Crop Progress report showed cotton harvest advanced 8% points through the week that ended 11/20, to now 79% finished. The 5-yr average would be 71% finished. TX is 7% points ahead of their average pace with 71% out.Â
The Cotlook A Index was 135 points lower to 104.05 cents/lb on 11/18. USDA’s weekly Cotton Market Review showed 12,604 bales were sold at spot for the week with an 86.12 c/lb average price. The updated AWP for the week 77.78 cents/lb, from is 76.74 cents/lb.
Dec 22 Cotton  closed at 81.16, down 400 points,
Mar 23 Cotton  closed at 79.78, down 400 points,
May 23 Cotton  closed at 79.15, down 392 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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