Cotton Market in Red at Midday

Monday cotton trading has futures unch to 81 points lower so far, as the ags and energies are seeing broad selling. Gold and the stock market futures are higher. USDA reported the weekly average spot price at 59.91 cents/lb, which was 235 points higher. In the WASDE reports, USDA left the 2019/20 cash average price at 59 cents/lb, but raised the 2020/21 by 2 cents to 59 c/lb. USDA’s cotton production forecast is 17.5m bales. That is down 2m bales from June on lower acres and lower yields. Last week’s sales on The Seam totaled 24,501 bales at a wtd average price of 57.39 cents/lb. The July 10 Cotlook A index was down by 45 points to 69.70 c/lb. The AWP for cotton for this week is 51.48 cents/lb., with a 0.52 cent LDP.

Oct 20 Cotton is at 64.71, unch

Dec 20 Cotton is at 63.50, down 81 points

Mar 21 Cotton is at 64.24, down 59 points

May 21 Cotton is at 64.91, down 43 points

--- provided by Brugler Marketing & Management