Cotton Market Up 29 to 51 Points Overnight

Cotton futures were 29 to 51 points higher overnight. Cotton ended the Thursday session with losses of 4 to 19 points, disregarding soon to expire (Friday) December. The Monthly export data from Census showed cotton shipments for October were 731,611 480 lb bales, which is 19.6% below September shipments, but was an 11-year high for the month and the 3rd largest October total on record. Weekly Export Sales data from the USDA listed 165,903 RB of cotton export sales on the week. Through the same week ending 11/28 shipments were 166,737 RB bringing the accumulated weekly shipments to 3.099 million RB, which is 15.38% above last year. The Seam reported 10,097 bales sold on Dec 4th, bringing the weekly total to 21,608 bales. The Cotlook A Index was 65 more points lower at 73.50 cents per pound on Dec 4th. The weekly AWP was reduced to 55.97 cents/lb. That was a 23 point drop from the previous week.

---provided by Brugler Marketing & Management




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