Cotton Turns Back Lower
Alan Brugler - Barchart - Wed Jan 13, 5:35PM UTC

So far front month cotton futures are down 56 to 69 points on a bout of midweek profit taking. New crop December is 76.77 cents/lb at midday, down by 46 points. USDA raised the national average cash price by 3 cents to 68 cents/lb. National production dopped on a 25 lb/acre yield hit to 14.95 million bales. Ending stocks were 1.1m bales tighter at 4.6 million. Cotton ginnings through January 1 were 13.003m RBs. That is 26% lower yr/yr and still the lightest since the 15/16 crop. USDA’s Daily Spot Quotations report noted 30,386 bales were sold at an average price of 77.34 cents/lb on Tuesday. The Cotlook A index was 60 points higher on 1/12 to 86.90 cents/lb on 01/11. The AWP is 62.25 cents/lb through Thursday. 

Mar 21 Cotton is at 81.01, down 69 points,
May 21 Cotton is at 81.8, down 65 points
Jul 21 Cotton is at 82.53, down 62 points
Dec 21 Cotton is at 76.7, down 53 points

--- provided by Brugler Marketing & Management



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