Cotton is Mixed at Midday

Dec cotton futures are lower, by 3 cents at midday, but the rest of the nearby contracts are showing gains of 5 to 17 points to follow up Monday gains. Cotton rallied on Monday with gains tapering off in the back months. 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 figure for November since 2012/13. Cotton harvest 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. AL is 8 percentage points above their average pace, and SC is 14 points ahead of their average harvest pace. The 11/25 Cotlook A Index was down 85 points higher at 74.10 cents/lb. The AWP for cotton is 56.36 cents per lb. and effective through Friday.

DEC 19 Cotton is at 64.66, down 3 points,

MAR 19 Cotton is at 65.97, up 17 points

MAY 20 Cotton is at 66.95, up 14 points

JUL 20 Cotton is at 67.63, up 5 points

--provided by Brugler Marketing & Management

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