Cotton Market in Red so far

Cotton futures are down 46 to 64 points at midday, with May ’21 the weakest so far. The US dollar index is stronger for the third day in a row. USDA’s Export Sales report showed 131,458 RBs were sold on the week ending August 27. That was down 16% wk/wk, and 19% below sales from the same week last year. Cotton sales to China were 47% of the total. July cotton exports were 1.63m 480lb bales according to Census data. That was 13% higher yr/yr, and brought the 2019/20 MY total to 15.95m bales. That was 3% higher yr/yr and the third highest all time (behind 06/07 and 17/18). The Seam reported 3,413 bales of cotton sold online at an average gross price of 59.48 cents/lb. The Cotlook A index for 9/2 was 71 cents/lb, back up 15 points. The AWP for cotton for the week is 50.50 cents/lb, with a 1.5 cent LDP. Those will be updated after the close.

Oct 20 Cotton is at 63.72, down 46 points,

Dec 21 Cotton is at 64.40, down 56 points,

Mar 21 Cotton is at 65.41, down 47 points

May 21 Cotton is at 66.12, down 64 points

--- provided by Brugler Marketing & Management




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