
Thursday’s cotton market pulled back with 103 to 156 point losses. New crop cotton also traded red, though closed off their lows with futures losses limited to 57 points.
USDA reported cotton bookings were 143,152 RBs in the weekly Export Sales report. That was down 16% wk/wk as the lowest sale since 11/18, and was 6% lighter than the same week last year. Cotton exports from the same week were 104,869 RBs. That left the MYTD total at 3.04 million, which is 45% behind last season’s pace. Total cotton commitments as of 12/30 trail last season by 8% with 10.6m RBs committed.
Census data showed 476,606 bales of cotton were shipped during November. That was 5% above October exports, but still 64% lighter yr/yr. MYTD cotton shipments reached 2.451m bales.
The Seam reported 30,667 bales were sold on 1/05 for an average gross price of 112.39 cents/lb. USDA’s 1/06 DSQ report showed 13,876 bales were sold at spot. The Cotlook A index was another 345 points higher on Jan 5 to 128.5 cents. The AWP for cotton is 103.85 c/lb after a 473 point bump from the previous week.
Mar 22 Cotton closed at 114.72, down 156 points,
May 22 Cotton closed at 112.28, down 133 points,
Dec 22 Cotton closed at 93.99, down 31 points