Cotton

Cotton futures are 34 to 45 points lower this morning. They finished last week with 20 to 51 points losses on Friday. A little pressure came from a stronger US dollar. Managed money spec traders climbed back to their largest net long position since mid May at 82,409 contracts. That was an increase of 11,681 contracts over the week that ended 12/5. The USDA Ag Attach in China expects the country to show 5.4 MMT in 17/18 production, with total usage running at 8.5 MMT. They are also shown as importing 1.3 MMT, an increase of 0.2 MMT from 16/17. The USDA Adjusted World Price (AWP) was updated to 65.03 cents/lb, up 81 points from the previous week. Online cash sales rose to 23,591 bales reported on the Seam, as prices were up 64 points to 69.90 cents/lb. The Cotlook A index was up 25 points from the previous day on December 7 to 83.20 cents/lb.




Market Commentary provided by:

Brugler Marketing & Management LLC
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Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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