Wednesday Cotton Down at Midday

Cotton futures are 10 to 26 points lower so far in the last session before the Thanksgiving holiday. Participation is expected to be on the light side, as some make it a 4 or even 5 day holiday. Cotton continued Monday’s rally on Tuesday with May futures leading the way (+25 points) at the close. Cash sales started the week off strong with the Seam posting 12,620 bales sold on 11/25. The 11/25 Cotlook A Index regained all of the 85 points from yesterday, back at 74.95 cents/lb. With tomorrows Holiday, the adjusted world price will not be updated until Friday; it is still currently at 56.36 cents per lb from last week. Cert stocks continue to rise, providing liquidity for December futures deliveries.

DEC 19 Cotton is at 64.7, down 20 points,

MAR 19 Cotton is at 65.85, down 10 points

MAY 20 Cotton is at 66.94, down 12 points

JUL 20 Cotton is at 67.62, down 26 points

--provided by Brugler Marketing & Management




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