Cotton Market Sees Solid Export Data

Cotton futures are trading 68 to 74 points lower to start the week. Nearby cotton futures finished higher on Friday with gains of 54 to 61 points, reclaiming earlier losses and pushing Dec futures into a 16 point gain on the week. The CFTC reported spec funds in cotton futures and options were net short by 14,272 positions, which is 975 less short than the previous release. Cotton weekly export sales were at 345,079 running bales for the week ending 11/07, that is a 52.09% increase over the previous week. The USDA reported 126,177 bales shipped for the same week. Accumulated exports are now 2.610 million bales, 15.98% above last year’s pace. The Seam reported 5,353 bales sold online for 11/14, bringing the weekly accumulated sales to 18,087 bales. The 11/14 Cotlook A Index fell by 90 points to 74.90 cents/lb. Good through 11/21, yesterday’s updated AWP for cotton is 57.06 cents/lb, which was back up 46 points.

--provided by Brugler Marketing & Management

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