Cotton Working Lower at Midday

Cotton futures are trading lower at midday with 7 to 18 point drops so far. In Delivery Dec futures are down 58 points to 70.01 cents. The dollar is weaker on the day so far. ICE announced another 17 deliveries against Dec, MTD deliveries are now at 292 contracts. USDA’s Cotton Systems report indicated 1,349 RBs were consumed in October. That was up 29% mo/mo but 1% below 2019. Cotton stocks also climbed 27% on the month to 1,714 RBs. Cotton sales on the online cotton trading platform The Seam were 6,040 bales for an average gross price of 65.82 cents/lb. The Cotlook A index was fell back 95 points on 12/1 to 78.95 cents/lb. The AWP for cotton is 58.63 cents/lb through Thursday.

Dec 20 Cotton is at 70.01, down 58 points,
Mar 21 Cotton is at 72.15, down 4 points
May 21 Cotton is at 73, down 7 points
Jul 21 Cotton is at 73.82, up 5 points

 --- provided by Brugler Marketing & Management




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