Cotton Continues to Lower

Cotton futures settled another 70 to 76 points lower. Renewed trade friction with Brazil, Argentina and France caused bulls to reconsider ambitious export ideas. US harvest progress has also put plenty of cotton into the near term pipeline. Delivery notices against December futures continue to dribble out from Dreyfus to an SG Americas client. There have been 810 for the crop year. The Seam Reported 7,655 bales sold for an avg. gross price of 56.48 cents/bale. The Dec 2 Cotlook A Index was 45 points lower at 74.55 cents per pound. The AWP is 56.20 cents /lb.

Dec 19 Cotton closed at 63.1, down 75 points,

Mar 20 Cotton closed at 64.05, down 75 points

May 20 Cotton closed at 65.15, down 76 points

Jul 20 Cotton closed at 66.16, down 70 points

---provided by Brugler Marketing & Management

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