Cotton Closes Lower on Tuesday

At the closing bell on Turnaround Tuesday, cotton futures were down 8 to 14 points in the front months. The Tuesday session had wide ranges, which for Dec was 1.35 cents. Dec cotton traded the highest since Jan 22 but couldn’t hold it. November Cotton futures on the ZXE (China) were 14,770 yuan/MT (~$1.0036/lb) on 10/19. March contracts closed at 15,060 yuan/MT (~$1.023/lb). The us national average spot price for cotton was 67.41 cents/lb on 10/19, according to cmdtyView data. Monday sales on the online cotton trading platform, The Seam, were 4,835 bales at an average gross price of 66.65 cents/lb. USDA’s Daily Spot Quotations report said 5,413 bales were sold at spot on Tuesday at 65.70 cents/lb. The Cotlook A index was 75.40 cents/lb on 10/19, up 75 points. The week’s AWP for cotton of 53.43 cents/lb.

Dec 20 Cotton closed at 71.02, down 14 points,

Mar 21 Cotton closed at 71.7, down 13 points

May 21 Cotton closed at 72.29, down 12 points

Jul 21 Cotton closed at 72.78, down 8 points

--- provided by Brugler Marketing & Management

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