Cotton Triple Digits Higher as Shorts Cash Out

Following the Thursday limit losses, cotton futures seeing some profit taking this morning. Prices are 100 to 194 points higher. Expanded limits for today’s round are a full nickel/lb. For May contracts, yesterday’s limit loss left prices at the lowest level since December 31. New crop futures closed 347 to 392 points weaker as well.

The weekly Export Sales data release from USDA showed 271,194 RBs with 313,514 RBs shipped. That brought the accumulated export to 9.146m RBs, maintaining the record pace.

USDA’s 3/25 DSQ report showed just 279 bales were sold at spot. The Cotlook A index for March 24 was down another penny to 89.50 cents/lb. USDA’s FSA lowered the AWP for cotton by 2.9 cents to 68.55 cents/lb.

May 21 Cotton  closed at 78.44, and is now up 178 points,

Jul 21 Cotton  closed at 79.52, now up 170 points,

Dec 21 Cotton  closed at 76.55, now trading 194 points higher




<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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