Cotton Dips at Midday

Midweek cotton trading has futures down 21 to 37 points at midday, giving back yesterday’s move. The dollar is firmer this morning after setting new multi-year lows on Tuesday. Monday sales on the online cotton trading platform The Seam were 533 bales at a gross average price of 54.08 cents/lb. The Cotlook A index for 9/1 was 70.85 cents/lb, down another 25 points. USDA’s Ag Attache sees Brazil producing 12.1m bales of cotton in 2020/21. That is below USDA’s official forecast of 13.92m bales and would be 1.3% lower yr/yr if realized. The AWP for cotton for the week is 50.50 cents/lb, with a 1.5 cent LDP. Both will be updated tomorrow.

Oct 20 Cotton is at 64.39, down 27 points,

Oct 20 Cotton is at 65.04, down 36 points,

May 21 Cotton is at 65.94, down 37 points

May 21 Cotton is at 66.78, down 29 points

--- provided by Brugler Marketing & Management




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