Cotton Lower at Midday

Cotton futures are down 56 to 69 points in most contracts on Thursday. USDA’s weekly Export Sales report showed upland cotton bookings of 350,865 RBs for data from the week ending 02/06. That was the highest weekly sales since the week ending 05/16 of 2019. New crop cotton bookings were 57,256 RBs, which was a 12-week high. Combined net sales for cotton were 21.1% higher wk/wk, and 115.1% higher yr/yr. Upland cotton exports on the same week were 400,463 RBs, which puts accumulated shipments at 5.868 million RBs. Exports to China accounted for 11.51% of the total as 52,183 RBs were shipped on the week. The Seam online cotton trading platform added 9,187 bales sold on 02/11, for an average gross price of 61.99 c/lb. WTD sales on The Seam were 18,066 bales. The 02/12 Cotlook A index was firm at 77.20. The AWP for cotton is 58.44 cents/lb, and will be updated later this afternoon.

MAR 19 Cotton is at 67.89, down 69 points,

MAY 19 Cotton is at 68.6, down 64 points

JUL 20 Cotton is at 69.51, down 56 points

---provided by Brugler Marketing & Management

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