Cotton Fading through Midday

Midday cotton futures are fading with triple digit (buy the rumor, sell the fact) losses out of the USDA report. Cotton’s cash average price was 6 cents stronger to 90 c/lb in the USDA update. 

USDA trimmed cotton’s yield by 24 lbs/acre. Output was seen at 18m bales, after a 510k bale cut. The demand was UNCH from the Sep estimates reducing carryover to 3.2m bales. That level implies a Stx/Use ratio of 17.8%. 

Sales on The Seam for the week through Thursday totaled 6,387 bales for a weighted average price of 105.5 cents/lb. USDA’s weekly Cotton Market Review noted 105 cents/lb as the average price for the 9,616 bales sold through the week. The Cotlook A index was 80 points weaker to 119.25 cents/lb. The AWP for cotton is now 91.81 cents/lb, up from 83.92 last week. 

Mar 22 Cotton  is at 105.73, down 151 points,

May 22 Cotton  is at 104.59, down 156 points,

Jul 22 Cotton  is at 102.41, down 169 points




Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!


Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.