Cotton Mixed in Early Tuesday Trade

Cotton is 12 lower to 8 higher this morning after posting Monday gains. On Monday, front month futures were 62 to 85 points higher. USDA’s Spot Cotton Quotations report showed 2,871 bales were sold at an average gross price of 67 cents/lb. The Crop Progress report showed harvesting continues at average pace; an additional 8% of the crop was picked on the week bringing harvest to 42% complete. Texas was 48% harvested, compared to their average of 34%, but in Arkansas and Mississippi cotton picking trails the 5-yr averages by 12 percentage points. NASS ratings on the remaining crop resulted in a drop to 311 on the Brugler500 index. The Cotlook A index was 90 points better on 10/23 at 77.75 cents/lb. The AWP for the week is 55.71 cents/lb.

--- provided by Brugler Marketing & Management

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