Cotton Market News and Commentary

Cotton futures posted losses of 92 to 115 points in the front months on Thursday. The US dollar index was stronger for the 6th day in a row, up 734 points on the day. Export sales of upland cotton in the week of Feb 28 were reported at 114,028 RB for old crop, with new crop at 25,692 RB. That was well below a year ago as total sales were 43.16% larger wk/wk. A net reduction of 1,227 RB was reported to China for 18/19, with 17,676 RB in sales for 19/20. Total export commitments for upland cotton are now lagging a year ago by 11%. The Cotlook A Index was up 150 points on March 6 to 82.65 cents/lb. The USDA Adjusted World Price (AWP) was updated to 63.42 cents/ lb on Thursday, up 75 points from the week prior. The now up to date Cotton On-Call report showed mills with a unfixed call sales position of 21,811 contracts on March 1, with unfixed call purchases at 15,078 contracts.

Mar 19 Cotton closed at 71.900, down 115 points,

May 19 Cotton closed at 73.110, down 110 points

Jul 19 Cotton closed at 74.300, down 92 points

--provided by Brugler Marketing & Management




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