Cotton Futures Closed in Black

Cotton futures traded higher briefly before spending most of the day in the red. Prices eventually rallied back in the afternoon and closed 4 to 16 points in the black. The monthly Cotton Systems report again withheld domestic consumption due to confidentiality. The last reported consumption was 1,484 RBs in March. August ending stocks were reported at 1,825 running bales. that was 16.9% above July’s stocks but still down 42% yr/yr. USDA’s weekly Export Sales update had cotton bookings at 233,751 RBs for the week ending 9/24. That was 152% above las week and 51% higher yr/yr. The report also showed 2021/22 activity, with Mexico purchasing 16,300 RBs for NMY delivery. Exports from the week were reported at 218,197 RBs, which brought the MY total to 2.2 million. USDA reported 6,149 bales sold at spot for an average price of 60.27 c/lb on 10/01. The Cotlook A index was 71.15 c/lb on Sept 29, that was 15 points weaker. The week’s new AWP for cotton is 50.67 cents/lb. That lowered the LDP 22 points to 1.33 cents.

Oct 20 Cotton closed at 64.61, up 12 points,

Dec 20 Cotton closed at 65.91, up 12 points

Mar 21 Cotton closed at 66.7, up 16 points

May 21 Cotton closed at 67.37, up 10 points

--- provided by Brugler Marketing & Management




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