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Cotton in Red so far

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At midday on the last trading day of July, cotton is down by 59 to 88 points. From the open on July 1, Dec futures are up 2.2%. From USDA’s weekly Cotton Market review, the average spot price for cotton this week was 56.73 cents/lb. That was down 1.45 cents from last week’s average price with much more cash activity. The full week’s range was 55.67 to 58.53 c/lb. The national average cash price from cmdtyView was 59.82 c/lb on July 30 – with a week’s average of 58.28. Cotton export sales from the week ending July 23 were 118,698 RBs. That was more than 10x the same week last year. New crop sales were 9,500 RBs, which was mainly to Vietnam and Pakistan. Cotton exports from the same week were 320,784 RBs. That was up 18% wk/wk and 10% above the same week last year. The online trading platform The Seam reported 13,600 bales were sold on July 29 at a gross average price of 62.17 cents/lb. That is their largest sale total since July 9, and the second largest sale since Jan 28. The Cotlook A index was 50 points higher to 67.05 cents/lb on July 30. The week’s new AWP from FSA is 47.71 cents/lb, down 133 points from last week. The updated LDP is now at 4.29 cents/lb.

Oct 20 Cotton is at 61.96, down 86 points,

Dec 20 Cotton is at 62.59, down 59 points

Mar 21 Cotton is at 63.22, down 59 points

May 21 Cotton is at 63.78, down 68 points

--- provided by Brugler Marketing & Management

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