Cotton Gaining on Thursday

Cotton futures have overcome earlier losses and are trading 60 to 70 points higher. Yesterday the board closed 251 to 254 points in the red. New crop contracts were 144 points weaker with Dec near 85.01 cents.

The weekly Export Sales data release showed 169,041 RBs of cotton booked on the week ending 2/25. That was down 32% wk/wk and was 21% below cotton sales from the same week last year. Total 2021/22 commitments now trail last season by 0.5% with 13.578m RBs.  

USDA’s Daily Spot Quotations report for 3/3 had 2,192 bales sold at spot. The Cotlook A index for 3/3 pulled back 60 points to 96.15 cents/lb. The AWP for cotton is 75.76 cents/lb, and will be updated after the close.

--- provided by Brugler Marketing & Management

  1. May 21 Cotton is at 89.12, up 67 points,
  2. Dec 21 Cotton is at 85.61, up 60 points




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