Cotton Retreating on Wednesday

Cotton futures are giving back some of the gains from Monday and Tuesday with the Wednesday pullback amounting to minus 19 to 35 points. The 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. Crop conditions declined following the hurricane, with 30% rated poor/very poor vs. 27% last week. Daily cotton sales reported by the USDA were 4,780 bales for 63.29 cents/lb. The Cotlook A index rose another 80 points on 10/13 to 74 cents. The AWP for cotton is 51.48 cents/lb, with an 0.52 cent LDP.

Dec 20 Cotton is at 68.6, down 23 points,

Mar 21 Cotton is at 69.37, down 27 points

May 21 Cotton is at 70.07, down 33 points

Jul 21 Cotton is at 70.62, down 35 points

--- provided by Brugler Marketing & Management

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