Cotton Market News and Commentary

Cotton futures were up 34 to 168 points in the nearby contracts on Thursday, despite a sharply higher dollar. May had its highest close since December 19. The Cotlook A Index was up 50 points on March 19 to 84.65 cents/lb. The USDA Adjusted World Price (AWP) was updated to 65.83 cents/ lb on Thursday, up 173 points from the week prior. The weekly Export Sales report by the USDA this morning showed sales of 124,985 RB for old crop cotton, with new crop at 32,824 RB. Vietnam purchased 84,700 RB for old crop, with China cancelling a net 11,636 RB. China was the lead buyer of new crop at 15,400 RB, with Pakistan at 8,900 RB. Shipments in that week were the second largest this MY at 350,146 RB. The top destination was Pakistan at 79,000 RB, with 36,241 RB headed to China.

May 19 Cotton closed at 77.180, up 168 points,

Jul 19 Cotton closed at 78.030, up 147 points

Oct 19 Cotton closed at 75.920, up 45 points

--provided by Brugler Marketing & Management




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