Cotton Market News and Commentary

After modest Thursday gains, cotton futures are 56 to 71 points lower this morning. A general flight to cash is underway after the President and First Lady both tested positive for coronavirus. Cotton futures closed 4 to 16 points in the black. August ending stocks were reported at 1,825 running bales from the monthly Cotton Systems report. That was 16.9% above July’s stocks but still down 42% yr/yr. USDA’s weekly Export Sales update had cotton bookings at 233,751 RBs for the week ending 9/24. That was 152% above last week and 51% higher yr/yr. Exports from the week totaled 218,197 RBs, which brought the MY total to 2.2 million. The Cotlook A index was 71.15 c/lb on Sept 29, that was 15 points weaker. The week’s new AWP for cotton is 50.67 cents/lb. That lowered the LDP 22 points to 1.33 cents.

--- provided by Brugler Marketing & Management




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