Cotton Trading Lower ahead of Weekend
Cotton futures are down 51 to 75 points at midday. New crop December futures are also 30 points in the red. USDA reported 292,355 RBs of cotton sold for export on the week ending 1/14. That was down 11% wk/wk, but 25% above the same week last year. Accumulated cotton commitments were 12,156m RBs as of 1/14. USDA’s Daily Spot Quotations reported 16,145 bales sold on 1/21, for an average of 78.64 cents/lb. The average basis strengthened 21 points. The Cotlook A index half a cent higher to 88.10 cents/lb. USDA’s FSA raised the AWP for cotton another 47 points to 66.7 cents/lb.
| Mar 21 Cotton is at 81.82, down 75 points, |
| May 21 Cotton is at 82.92, down 58 points |
| Jul 21 Cotton is at 83.79, down 51 points |
| Dec 21 Cotton is at 78.74, down 30 points |
--- provided by Brugler Marketing & Management
