Cotton Trading off Highs at Midday

Early session strength has faded for midday cotton futures. Prices are trading 114 to 152 points in the red at midday, though were up by more than a penny earlier. New crop cotton futures are 61 to 83 points in the red. 

Cotton bookings from the weekly Export Sales report were 273,045 RBs. That was down 32% from last week and was 7% below the same week last year. Pakistan and China were the week’s top buyers. FAS had cotton shipments from the week that ended 1/13 at 198,682 RBs. The top destinations were China and Vietnam. Accumulated bookings were up to 11.27m RBs as of 1/13, which was 7.3% behind last season’s pace. 

The Cotlook A index was 137.50 cents/lb on 1/20, up by another 295 points. The FAS updated the adjusted world price for cotton to 110.44 cents. That was a 4.86 cent bump and is good through next Thursday. 

Mar 22 Cotton  is at 121.65, down 122 points,

May 22 Cotton  is at 118.61, down 106 points,

Dec 22 Cotton  is at 98.31, down 70 points