Cotton prices are starting off your Friday morning with gains of 11 to 28 points – setting Dec up for a net 147 point gain for the week’s trade. Dec cotton futures printed a 158 point range, and closed 27 points in the black. The rest of the board was red on the day with 9 to 20 point losses for Thursday.
Export Sales data from FAS had 328,347 RBs of cotton sold during the week that ended 11/9. That was down from 395k last week, but was well above the 25k RBs sold during the same week last year. China was the top buyer for the week with 176k RBs. The weekly report listed commitments at 7.26m RBs, down from 8.8 million last year.
The Cotlook A Index for 11/14 was steady at 89.30 cents/lb. The Seam reported 6,796 bales on 11/14 for an average gross price of 77.89 cents/lb. The new AWP was 39 points stronger to 64.23 cents/lb.
Dec 23 Cotton closed at 78.68, up 27 points, currently up 13 points
Mar 24 Cotton closed at 80.88, down 13 points, currently up 13 points
May 24 Cotton closed at 81.63, down 11 points, currently up 14 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.
