Cotton Down 11 to 14 Points to Extend Retreat

Futures are 11 to 14 points lower than the Thursday close, adding to yesterday’s 57 to 83 point losses. 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 7,883 bales sold on 02/12, for an average gross price of 61.53 c/lb. WTD sales on The Seam were 25,949 bales. The 02/12 Cotlook A index was firm at 77.20. FAS added 38 points to the Adjusted World Price for cotton, it is updated at 58.82 cents/lb, and is good through next Thursday.

---provided by Brugler Marketing & Management

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