Cotton

Cotton futures posted losses of 11 to 53 points in most contracts on Thursday, as the US dollar was up 450 points. All upland cotton 17/18 export sales of 161,013 RB were reported for the week ending 9/28 in this morning’s USDA report. That was 1.35% above this time last year but 17.09% below the previous week. Sales for 2018/19 came in at 28,600 RB, all for Pakistan. Shipments fell to 114,942 RB, 12.85% lower than a week ago and lagging this week in 2016 by 45.92%. The USDA AWP was redued 51 points vs. the previous week, at 60.04 cents/lb. The Cotlook A index for October 4 was down 10 points from the previous day at 77.60 cents/lb. They project the US to total 39% of the world trade activity, with 14.2 million bales of the 36.4 total.

Oct 17 Cotton closed at 68.900, down 53 points,

Dec 17 Cotton closed at 68.270, down 53 points

May 18 Cotton closed at 68.400, down 22 points




Market Commentary provided by:

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