Cotton Rallies on Monday

Cotton rallied on Monday with gains tapering off through the contract months, Dec futures led the rally with a triple digit gain of 117 points. USDA cotton ginnings report data showed that as of Nov 15th 9.143 Million bales had been ginned. That was up 32.72% over last November and 48% over the 15 year average; and was the highest ginnings for November since 2012/13. Cotton harvest had progressed 10 percentage points over last week, per the crop progress report. The 78% completion is 4 percentage points ahead of the average pace, and 10 points above last year’s pace. The 11/22 Cotlook A Index was down for the again at 73.25 cents/lb. The AWP for cotton is 56.36 cents per lb. and effective through Thursday.

DEC 19 Cotton closed at 64.59, up 117 points,

MAR 19 Cotton closed at 65.79, up 94 points

MAY 20 Cotton closed at 66.77, up 83 points

JUL 20 Cotton closed at 67.52, up 71 points

--provided by Brugler Marketing & Management

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