Cotton Rallied Triple Digits on Monday

Monday cotton trading pushed futures 110 to 124 points higher. NASS reported that 93% of the US cotton crop had open bolls as of the 18th. The average is for 89%. Harvest was reported at 34% complete, up 8% on the week and even with average. In TX, 42% was harvested which was 13% ahead of the average. In GA cotton harvest was 19% complete, lagging the 5-yr av of 32%. Conditions were a 306 on the Brugler500 index. That was down 1 point from last week, and still 15 points below the same week last season. Ratings in VA and OK were down the most on the week dropping 26 and 11 points on the index respectively. USDA said 4,935 bales were sold at spot for 65.84 cents/lb, in the Daily Spot Quotations report. The Cotlook A index was firm at 74.65 cents/lb on the 16th. The week’s AWP for cotton of 53.43 cents/lb.

Dec 20 Cotton closed at 71.16, up 124 points,

Mar 21 Cotton closed at 71.83, up 127 points

May 21 Cotton closed at 72.41, up 118 points

Jul 21 Cotton closed at 72.86, up 115 points

--- provided by Brugler Marketing & Management

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