Cotton Futures Lower Again

Cotton futures followed Monday’s decreases with more of the same on Tuesday. Nearby futures posted losses of 63 to 82 points at midday. The Seam reported 3,583 bales sold at an average price of 55.07 cents/lb for 11/18. Egyptian cotton has retained profitability, with the Nile Cotton Ginning Report showing a profit of 467,172 Egyptian pounds (28,964.664 U$D) on the year through 9/30. Last year at this point they reported a net loss of 2,408,783 pounds ($149.344.546). The USDA Weekly Crop Progress Report stated that cotton harvest is 68% complete. The Cotlook A Index was boosted on 11/18 to 75.50 cents/lb, up 60 points. The AWP for cotton will be 57.06 cents/lb through Thursday.

DEC 19 Cotton closed at 63.39, down 82 points,

MAR 19 Cotton closed at 65.32, down 65 points

MAY 20 Cotton closed at 66.61, down 63 points

JUL 20 Cotton closed at 67.62, down 70 points

--provided by Brugler Marketing & Management




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