Cotton Futures Close in Black

Cotton futures were up 15 to 29 points on Friday. For Dec that completed a 2.8% gain for the week. USDA’s 2020/21 cotton production is 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. They increased the cash average price to 61 cents per pound, up 2 from 59 in Sept. Through October 1, NASS says 915k RBs have been ginned. That is 19% below 19/20’s pace, and the lowest since 15/16. CFTC’s Weekly data release showed cotton spec traders were 53,080 contracts net long on October 6. That was up 1,952 contracts from last week’s net long. The Weekly Cotton Market Review said 28,834 bales were sold at spot this week. That was 11.3k bales above LW and 15.3k bales above LY. The average spot price for the sales was reported at 61.13 cents/lb, compared to 60.10 LW and 58.81 LY. 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 closed at 67.64, up 15 points,

Mar 21 Cotton closed at 68.42, up 16 points

May 21 Cotton closed at 69.12, up 22 points

Jul 21 Cotton closed at 69.61, up 29 points

--- provided by Brugler Marketing & Management




Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!


Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.