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Cotton Lower at Midday

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Cotton futures are in the red at midday with losses of 2 to 27 points so far. USDA’s Export Sales report showed cotton bookings at 313,487 RBs. That came via 67,296 RBs of old crop sales and 246k RBs of new crop (mostly to China). Cotton exports from the report were 276,959 RBs. That is down 13% wk/wk and 19% below the same week last MY. China was the destination for 38% of the week’s shipments, MYTD China has been the destination for 15% of exports. Cotton stocks as of the last Saturday of May were 1,662 RBs. Another 1,367 bales were sold on The Seam on Tuesday. Tuesday went for an average gross price of 53.18 cents/lb. The July 1 Cotlook A index was 90 points stronger at 68.85 c/lb. The AWP for cotton is 49.60 cents/lb, with an LDP of 2.4 cents. Both will be updated after the close.

Jul 20 Cotton is at 62.58, unch

Oct 20 Cotton is at 62.81, down 27 points

Dec 20 Cotton is at 62.68, down 6 points

Mar 21 Cotton is at 63.41, down 4 points

--- provided by Brugler Marketing & Management

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