Cotton Close in Black

Front month cotton futures gained 58 to 90 points on the day. Despite Dec being up the most, it did not take out the 9 month high from yesterday. Dec futures have green candles for 12 of the last 15 sessions. USDA’s Daily Spot Quotations report said 7,139 bales were sold at spot on Thursday at 66.76 cents per pound. The Cotlook A index was up another 5 points to 76.85 cents/lb on 10/21. About 742,750 RBs were ginned during the first half of October, as USDA’s cotton ginnings report showed 1.658m RBs were ginned MYTD. Accumulated ginnings are running 42% behind 19/20’s pace, still the slowest since 15/16. Upland cotton bookings from the Export Sales report were 227,760 RBs for the week ending 10/15. 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 FSA adjusted the AWP for cotton 2.28 cents higher to 55.71 cents/lb.

Dec 20 Cotton closed at 71.94, up 90 points,

Mar 21 Cotton closed at 72.51, up 78 points1

May 21 Cotton closed at 73.09, up 75 points

Jul 21 Cotton closed at 73.54, up 73 points

--- provided by Brugler Marketing & Management




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