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Cotton Continues to Lower

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Cotton futures are another 61 to 64 points lower, after having been lower by 14 to 50 points yesterday. The monthly Cotton System utilization report from NASS showed that 1,283 running bales of cotton were consumed through October. That comes as an increase of 1.6% over last month, and a 26.4% drop from October 2018. The yearly average is now 1,636.3 RBs, which would be the lowest yearly average in at least 5 years. Cotton harvest, per the USDA weekly crop progress report, advanced to 83% completed. The four year average for the week ending 12-01 is 81%, and last year harvest was 74% complete through the same point. LA is 100% complete with AR and MS close behind at 97 and 99% respectively. The Dec 2 Cotlook A Index was 45 points lower at 74.55 cents per pound. The AWP is 56.20 cents /lb.

MAR 19 Cotton closed at 64.16, down 64 points

MAY 20 Cotton closed at 65.27, down 64 points

JUL 20 Cotton closed at 66.25, down 61 points

---provided by Brugler Marketing & Management

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