Cotton Closes Down Triple Digits

At the close of the Thursday session, front month cotton futures were 202 to 325 points in the red. Old crop July was the weakest, tightening the inversion to 58 points above December. 

Cotton export bookings were down 15% week to week per data from USDA’s weekly Export Sales report. Vietnam and China were the top buyers of the 54,386 RBs sold with 48% and 27% of the total respectively. New crop sales were reported at 72,082 RBs, bringing the forward book to 1.807 million. 

The online cotton trading platform, The Seam, reported 3,280 bales sold on 5/12 for an average price of 73.17 cents/lb. USDA’s Daily Spot Quotations report from 5/13 showed 3,335 bales were sold at spot. The 5/11 Cotlook A index was down another 70 points to 92.90 cents/lb. The FSA’s new Adjusted World Price for cotton is 72.91 cents/lb, up from 71.39 LW.  

Jul 21 Cotton  closed at 84.98, down 325 points,

Dec 21 Cotton  closed at 83.3, down 237 points,

Mar 22 Cotton  closed at 83.04, down 221 points




<p>Market Commentary provided by:<br /> <img src="https://s3.amazonaws.com/images1.aws.barchart.com/logos/bruglerlogo.gif" border="0" /><br /> Brugler Marketing &amp; Management LLC<br /> 1908 N. 203rd St.Omaha, NE 68022<br /> Phone: 402-697-3623<br /> Fax: 402-289-2353<br /> E-mail: <a href="mailto:alanb@bruglermktg.com">alanb@bruglermktg.com</a><br /> Web: <a href="http://bruglermarketing.com/">http://bruglermarketing.com</a></p> <p align="center"><!-- [if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> 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