Mixed Close for Thursday Cotton

At the closing bell on Thursday, front month cotton futures were 2 to 3 points in the black, while July ended 10 points weaker. New crop prices dropped by 44 to 56 points on Thursday. 

USDA’s weekly Export Sales report showed 193,185 RBs of cotton was sold during the week that ended 2/10. Of that, 158,493 RBs were old crop bookings and 34.7k RBs were forward sales for 22/23 delivery. China was the top buyer for old crop sales, and Pakistan was the top buyer for the 22/23 sales. USDA reported 270,022 RBs of cotton was shipped during the week that ended 2/10. That brought the MYTD total to 4.473m RBs. Total shipments trail last year’s pace by 40%, though the full year’s commitments trail by just 6%. 

USDA’s 2/16 DSQ showed 4,865 bales of cotton was sold at spot. The Cotlook A index was unchanged at 136.95 on 2/16. USDA’s FSA reduced the Adjusted World Price for cotton 298 points to 114.62 cents/lb. 

Mar 22 Cotton  closed at 121.93, up 2 points,

May 22 Cotton  closed at 119.52, up 3 points,

Dec 22 Cotton  closed at 102.31, down 51 points