Cotton Gaining so far

Midday cotton prices are down from their highs for the day, but still up 22 to 32 points. 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 up another 140 points to 76.80 cents/lb on 10/20. The trade spat between China and Australia, which began in barley, has moved to cotton as China told importers to source cotton elsewhere. There has been no official ban or tariff imposed, but the verbal commands apply to both cotton and coal from Australia. The week’s AWP for cotton of 53.43 cents/lb.

Dec 20 Cotton is at 71.34, up 32 points,

Mar 21 Cotton is at 71.99, up 29 points

May 21 Cotton is at 72.53, up 24 points

Jul 21 Cotton is at 73, up 22 points

--- provided by Brugler Marketing & Management

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