Cotton

Cotton futures were mostly 91 to 187 points in the green on Friday, after seeing a 7.57% increase since last week. Export sales of old crop Upland cotton were reported at 399,123 RB for the week of February 15. New crop sales were shown at 177,217 RB. Shipments of cotton were reported at 333,531 RB, above last week but still 2.08% lower than the same time a year ago. Cotton yield is expected to drop to 828 lbs/acre during 2018/19 according to the USDA's Ag Outlook Forum. The lower yield is expected to more than offset the more acreage to drop production 1.76 million bales to 19.5 million bales. The USDA Adjusted World Price or AWP was updated to 69.69 cents/lb on Thursday, 54 points higher than the previous week. The Cotlook A index was up 150 points from the previous day on February 22 at 90.20 cents/lb.

Mar 18 Cotton closed at 81.450, up 91 points,

May 18 Cotton closed at 81.340, up 187 points

Jul 18 Cotton closed at 82.070, up 166 points




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