Cotton Fading Through Thursday
Cotton prices are currently 5 to 28 points in the red. March futures are off the lows for the day by 65 points.
FAS Export Sales data had 146,671 RBs of cotton booked during the week that ended 12/14. Weekly export shipments were a MY high 222k RBs, which took the total export to 2.83m RBs. That is still 22% behind last year’s pace, though the 8.12m RBs of total commitments is only 6% behind last year.
The Cotlook A Index weakened by 75 points to 89.45 for 12/19. The AWP for the week is 65.67 cents, and will be updated today after the close. The ICE certified stocks for 12/19 were 5,141 bales.
Mar 24 Cotton is at 79.02, down 19 points,
May 24 Cotton is at 79.89, down 17 points,
Jul 24 Cotton is at 80.35, down 21 points
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
