After rallying for the week, Thursday trading has the board back down by 207 to 283 points. December is still at a net 62 point gain for the week, but is just 6 points off the Thursday session low.
Export Sales data from the week that ended 7/20 had 18,665 RBs of net cancelations for old crop cotton, via cancelations for Turkey. Accumulated old crop commitments were still 13.959m RBs as of 7/20, 11% behind last year’s pace. USDA reported 80.5k RBs of new crop cotton sales for a forward book of 2.476 million.
The Cotlook A Index increased by 180 points to 97.20 cents/lb for 7/26. The AWP is 66.18 cents, and will be updated after the close.
Aug 23 Hogs are at $101.675, up $0.025,
Oct 23 Hogs are at $83.500, down $0.125
Aug 23 Pork Cutout is at $109.200, down $0.450,
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.
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