Triple Digit Gains for Nearby Cotton

Old crop cotton futures are up 123 to 131 points after USDA’s report. USDA’s cash average price for cotton was a penny lower to 68 cents/lb. New crop prices are 37 to 64 points in the black so far.  

USDA’s April WASDE shows a net increase of 250k bales, shrinking carryout to 3.9 million. Globally, cotton carryout was 1.13m bales tighter to 93.46 million. Exports were 940k bales higher which slightly reduced the U.S. market share to 34.63%.

USDA’s April 8th DSQ showed 1,197 bales were sold at spot. The Cotlook A index for 4/8 was 25 points higher at 86.60 cents/lb. USDA’s new AWP for cotton for the week is 67 points lower at 64.92 cents/lb.

May 21 Cotton  is at 82.64, up 123 points,

Jul 21 Cotton  is at 83.97, up 131 points,

Dec 21 Cotton  is at 81.76, up 64 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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