Cotton Gaining at Midday

Front month cotton futures are up 50 to 75 points at midday. The dollar is also higher thus far on Thursday. USDA’s Daily Spot Quotations report said 3,823 bales were sold at spot on Wednesday at 9 points better 65.79 cents/lb. The Cotlook A index was up another 5 points to 76.85 cents/lb on 10/21. Cotton bookings on the week ending 10/15 were reported at 227,760 RBs. That was 130% higher than last week’s low sales, and 10% above the same week last year. Pakistan and China were the top purchasers on the week, with 41% and 21% of the total respectively. The AWP for cotton is 53.43 cents/lb, and will be updated after the close.

Dec 20 Cotton is at 71.79, up 75 points,

Mar 21 Cotton is at 72.32, up 59 points

May 21 Cotton is at 72.86, up 52 points

Jul 21 Cotton is at 73.33, up 52 points

--- provided by Brugler Marketing & Management

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