Cotton

Cotton futures are currently 16 to 27 cents higher. They were up 33 to 76 points on Friday. The dollar is modestly higher in overseas trading. All upland cotton export shipments for the week of November 2 totaled 124,292 RB, nearly 43.13% over last week but still lagging last year. Total export commitments for upland cotton are now 63% of the USDA full year projection, well above last year’s 45% and the average of 49% for this date. On Thursday, the USDA raised the US average yield 11 lbs/ac to 900 lbs/ac, which would be a record. They also adjusted the average farm price of cotton to a range of 60-66 cents/lb, with a midpoint of 63 cents/lb, up 3 cents from the October estimate. The USDA average world price (AWP) was updated to 61.38 cents/lb, 33 points higher than the previous week. The Cotlook A index for November 9 was 50 points higher to 79.60 cents/lb.




Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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