Morning cotton futures are trading mixed within 10 points after spending most of the 117 point overnight range in the black. The cotton market pushed lower on Thursday with triple digit losses for the old crop contracts. May futures saw a 234 point range on the day from -170 to +64 so far. New crop cotton was also weaker though losses were limited to 53 points. OI in Dec is still building, but remains below the July contract.  

Weekly Export Sales data had 85,845 RBs of cotton booked for the week that ended 3/7. That was up 65% for the week, but marked the 3rd consecutive sub-100k RBs week. Shipments were listed at 292,282 RBs for a running total of 5.97 million. Shipments at the same time last year were 5.95 million RBs. Commitments remain 2.3% behind last year’s pace compared to the WASDE forecasted 3.7% yr/yr export decline. 

The Cotlook A Index fell 100 points to $1.00 02/100 /lb on 3/13. The updated AWP is 76.10 cents/lb, down by 68 points from last week. ICE certified stocks added another 1,100 bales to 27,765 as of 3/13. 

May 24 Cotton  closed at 93.48, down 142 points, currently down 10 points

Jul 24 Cotton  closed at 93.26, down 108 points, currently up 2 points

Dec 24 Cotton  closed at 83.43, down 53 points, currently down 8 points