Cotton futures are down 37 to 99 points so far on Thursday. The outside markets should be supportive, with the Dollar Index slightly lower and Crude Oil back up $1.21/barrel.
This morning’s Export Sales report tallied cotton bookings for 23/24 at 186,276 RB, taking the shipped and unshipped sales for the fresh MY to 5.126 million RB. Sales to China dominated the total, with 138,375 RB sold. Export shipments came in at 202,297 RB, a 56.83% increase over the previous partial week total. A total of 125,022 RB were headed to China.
The Cotlook A Index was 130 points lower to 95.65 cents/lb on 8/16. The AWP for cotton is 70.25 cents/lb, and will be updated this afternoon by USDA.
Oct 23 Cotton is at 84.95, down 37 points,
Dec 23 Cotton is at 83.78, down 94 points,
Mar 24 Cotton is at 83.71, down 93 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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