Midday Cotton Gaining

Monday cotton trading has futures 57 to 74 points higher so far. There were 20 deliveries against October futures MTD through Friday, and preliminary OI was less than 5 contracts. Cotton opens the new week 54 to 65 points higher. Crude oil and the stock market are also higher this morning. Nothing terrible appeared to happen to the President over the weekend, so the risk off moves from late last week are being reversed. Last week’s sales on The Seam were 15,075 bales at a wtd price of 56.69 cents/lb. The Cotlook A index for 10/02 was firm at 71.30 cents/lb. The week’s AWP for cotton is 50.67 cents/lb. The LDP is 1.33 cents for the week.

Dec 20 Cotton is at 66.5, up 68 points

Mar 21 Cotton is at 67.33, up 70 points

May 21 Cotton is at 68.01, up 74 points

Jul 21 Cotton is at 68.50, up 66 points

--- provided by Brugler Marketing & Management

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