Cotton

Cotton futures are currently 46 to 61 points higher at midday, with support coming from the USDA supply and demand tables. The USDA Cotton Ginnings report shows that as of December 1, 11.335 million RB had been ginned in the US. That was nearly 10% larger than this time last year and an increase of 3.408 million RB over the mid-November report. The USDA raised the US production number slightly to 21.44 million bales, on a 2 lb increase in yield to 902 lbs/ac. The US ending stocks number was lowered 0.3 million bales, as exports were raised by that amount. The world ending stocks number was trimmed 2.88 million bales to 88 million bales. Online cash sales dropped to 10,842 bales reported on the Seam, with prices were down 20 points to 68.44 cents/lb. The Cotlook A index was down 50 points from the previous day on December 11 to 84.20 cents/lb.

Mar 18 Cotton is at 73.61, up 61 points,

May 18 Cotton is at 74.1, up 52 points

Jul 18 Cotton is at 74.35, up 46 points




Market Commentary provided by:

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