Cotton Higher at Close

Cotton closed off both the highs (69.25 cents for Dec) and the lows (68.26) to end the Tuesday session 40 to 51 points higher. The Columbus Day delayed Crop Progress report from NASS had 90% of the cotton crop with open bolls. Harvest as of the 11th was 26% complete. Cotton harvest is just 1 percentage point behind the average pace. Harvest in MS and LA was 61% and 29% completed as of the 11. Mississippi harvest is usually at 49% by week 41. GA and TX still have 2/3 of their cotton to pick; for GA that is 17 percentage points behind average, but for TX that is 11 points ahead of average. Daily cotton sales reported by the USDA were 4,780 bales for 63.29 cents/lb – mostly in W. TX. The Cotlook A index rose 25 points on 10/12 to 73.20 c/lb. The AWP for cotton is 51.48 cents/lb, with an 0.52 cent LDP.

Dec 20 Cotton closed at 68.83, up 46 points,

Mar 21 Cotton closed at 69.64, up 46 points

May 21 Cotton closed at 70.4, up 47 points

Jul 21 Cotton closed at 70.97, up 51 points

--- provided by Brugler Marketing & Management

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