Cotton Market on the Gain

Following the monthly supply and demand revisions, cotton futures are up 35 to 46 points following USDA’s report. They were up 32 to 87 points ahead of the report. 2020/21 cotton production is seen at `17.05 million bales. The average yield was down 1 at 909 lbs. per acre. The 2020/21 export figure was UNCH at 14.6 m bales. USDA sees ending stocks at 7.2 million bales. That increased the cash average price to 61 cents per pound, up 2 from 59 in Sept. The Cotlook A index for 10/08 was another 65 points higher to 72.95 cents/lb. The Adjusted World Price for cotton was raised 81 points by USDA to 51.48 cents/lb. That set the LDP down to 0.52 cents for the week.

Dec 20 Cotton is at 67.95, up 46 points,

Mar 21 Cotton is at 68.69, up 43 points

May 21 Cotton is at 69.25, up 35 points

Jul 21 Cotton is at 69.71, up 39 points

--- provided by Brugler Marketing & Management




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