Cotton Market Higher at Midday

Cotton futures are up 58 to 74 points at midday with the back months the strongest inflating carry. August Census data showed the first MY month for 2020/21 cotton shipments was 1.424m bales. That is the second highest on record for the month, just 48.8k bales below the all-time high in August ’07. Harvest for this season’s crop was 17% complete as of Sunday. 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. The Cotlook A index for 10/05 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.

Dec 20 Cotton is at 66.71, up 68 points,

Mar 21 Cotton is at 67.57, up 65 points,

May 21 Cotton is at 68.28, up 70 points,

Jul 21 Cotton is at 68.82, up 74 points

--- provided by Brugler Marketing & Management

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