Cotton Mixed After 4 Days of Gains

Cotton trading overnight left futures 11 lower to 8 higher since closing 21 to 29 points higher on Thursday. Futures have closed higher each day this week, for a net move of 1.14 cents in December. Trade sources indicate that imports of Australian cotton into China are being discouraged by the Chinese government, creating more room for US purchases. Daily Cotton Spot Quotations were reported at 63.76 c/lb, with 4,751 bales sold in W. TX and 956 in E. TX/OK. WTD cotton sales reported by The Seam were 17,211 bales for a wtd ave price of 60.76 cents/lb. ICE certified stocks as of the 13th were 24,232 bales, which is up 396 from the 12th. The Cotlook A index rose another 50 points on 10/14 to 74.50 cents. NASS released the week’s new AWP for cotton of 53.43 cents/lb, with no more LDP.

--- provided by Brugler Marketing & Management




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