Cotton prices are giving back triple digits into the weekend. The front month March contract is down by 104 points for midday.
USDA’s weekly Classings Report showed 98,017 bales were classed as upland cotton through the week for a season’s total of 13.426 million. Texas has classed 3.16 million, 2.6m were classed in GA, with AR, MS, and NC also each over 1 million bales.
Weekly Export Sales data from the USDA had 171,160 RBs of cotton exports for the week that ended 1/26. That was a 20% drop for the week, and was half of the same week last year. USDA confirmed 20,240 RBs of new crop cotton was sold leaving the forward book at 1.256m RBs.
The 2/02 Cotlook A Index was 40 points lower to 100.95 cents. The online cotton trading platform, The Seam, reported 6,857 bales were sold at spot during 2/01 at an average price of 81.65 cents. The new AWP for cotton is 75.24 cents, up by 19 points on the week.
Mar 23 Cotton is at 85.28, down 111 points,
May 23 Cotton is at 85.94, down 116 points,
Jul 23 Cotton is at 86.52, down 120 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. For more information please view the Barchart Disclosure Policy here.
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