Cotton Higher As Hurricane Threatens

Cotton is currently 43 to 60 points higher. Front month cotton futures closed the session with 61 to 83 point gains. Hurricane Delta is currently on track to hit the mainland by Saturday, with Delta crops in the crosshairs. August Census data showed the first 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. Monday sales on the online cotton trading platform The Seam were 8,413 bales at an average gross price of 61.55 cents/lb. The Daily Spot Cotton Quotations report from USDA showed 3,188 bales sold on Tuesday (mostly W. TX) for an average gross price of 61.22 cents. ICE certified stocks were 1,100 bales higher with 17,875 on 10/05. 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. --- provided by Brugler Marketing & Management

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