The midday cotton market is 56 to 99 points in the black, led by a 1.8% gain for the Dec contract. Dec is now at a net 242 point gain for the week’s move.
USDA’s Export Sales report showed 186k RBs of cotton was booked during the week that ended 10/19. That was a 160% increase for the week and was nearly triple the same week last year. China was the top buyer with over half of the total sale. Cotton exports however were only 98k RBs for the week, a 43-wk low. The MYTD total trails last season by 30% with 1.8m RBs shipped.
The Cotlook A Index was 75 points weaker on 10/25 to 93.6 cents/lb. The AWP for cotton is 69.82 cents, and will be updated after the close. The ICE certified stocks were 63,324.
Dec 23 Cotton is at 84.81, up 100 points,
Mar 24 Cotton is at 86.34, up 83 points,
May 24 Cotton is at 87.16, up 72 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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