Cotton

Cotton futures are trading 34 to 82 points higher. They posted triple digit gains in most nearby contracts yesterday, with back months 14 to 41 points higher. The USDA weekly Export Sales report showed 259,661 RB in old crop upland cotton sales, a jump of 39.17% over the previous week. There were also 35,992 RB in new crop upland sales. Export shipments of upland fell 32.5% from last week at 166,568 RB, which was 23.72% lower than a year ago. Total export commitments of all upland cotton are now 33.3% larger than this time last year, slipping a bit from last week. As a percent of the USDA projection, they are 73% booked, with the average pace at 62% and last year at 55%. The USDA Adjusted World Price (AWP) was updated to 65.95 cents/lb, 92 points higher than the previous week.




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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