Midday Cotton Market in Red

Tuesday cotton trading has the front months triple digits weaker, with losses of as much as 112 points so far. They finished last week on a strong note, with most front months (excluding thin Oct) up 69 to 83 points. The dollar is trading higher, and energies are lower this morning with + $2 drops in oil. The 7-day QPF shows as much as 7” for West Texas. TX has been very dry, but with cotton harvest underway the rain may be less than beneficial. Through the first month of the MY, upland cotton export commitment are 50% of the USDA full year forecast. That is 3% above the normal pace, but 8% behind last year’s. The Cotlook A index for Sept 7 was 70.6 cents/lb, back up 75 points. The Adjusted World Price for cotton is 50.44 cents/lb, with a 1.56 cent LDP.

Oct 20 Cotton is at 63.06, down 106 points,

Dec 20 Cotton is at 63.06, down 106 points,

Mar 21 Cotton is at 64.85, down 112 points

May 21 Cotton is at 65.69, down 108 points

--- provided by Brugler Marketing & Management




<p>Market Commentary provided by:<br /> <img src="https://s3.amazonaws.com/images1.aws.barchart.com/logos/bruglerlogo.gif" border="0" /><br /> Brugler Marketing &amp; Management LLC<br /> 1908 N. 203rd St.Omaha, NE 68022<br /> Phone: 402-697-3623<br /> Fax: 402-289-2353<br /> E-mail: <a href="mailto:alanb@bruglermktg.com">alanb@bruglermktg.com</a><br /> Web: <a href="http://bruglermarketing.com/">http://bruglermarketing.com</a></p> <p align="center"><!-- [if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> 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