Triple Digit Gains for Cotton

Election Day cotton trading left the board triple digits stronger. Riding a 151 point gain, Dec futures were back above 70 cents. Front month cotton futures in China closed Nov 2nd at 13,790 yuan/MT. That is down from the 10/20 high of 15,245 yuan, but still a 20+ cent premium to U.S. board prices at 93.71 cents/lb. Monday cotton sales on The Seam were 494 bales at an average gross price of 66.65 cents/lb. USDA’s Cotton Spot Quotations update showed 1,686 bales sold 65.67 cents/lb. The Cotlook A index for the 11/02 was 75.75 cents/lb, down another 95 points. The AWP for cotton is 57.37 through Thursday.

Dec 20 Cotton closed at 70.24, up 151 points,

Mar 21 Cotton closed at 71.2, up 148 points

May 21 Cotton closed at 72, up 148 points

Jul 21 Cotton closed at 72.7, up 148 points

--- provided by Brugler Marketing & Management




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