Cotton Market Fades Its Monday Advance

Cotton markets head into daytime in the US with 8 to 10 point losses. Monday cotton closed 21 to 31 points higher. NASS said that 83% of the 2020/21 cotton has open bolls, compared to the 5-yr average of 75%. Harvest for this season’s crop was up 4 percentage points from last week to 17% complete. The 5-yr average is 20% harvested. Harvest in GA was 8%, which is below the 5-yr average of 15%. US cotton crop conditions were 5 points lower wk/wk to 311 on the Brugler500 index. OK fell the most on the week, dropping 18 points to 344. GA and KS ratings were also sharply lower falling 12 and 11 points respectively. 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 through Thursday.

--- provided by Brugler Marketing & Management

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