Alan Brugler
December cotton faded by 46 points on the day, but held onto a 5 point gain for the week’s net move. The other front months were 17 to 41 points lower on the week’s last trade day.
The weekly FAS Export Sales report showed 23k RBs of cotton export sales for the week that ended 7/6. That was the weakest sale since net cancelations in December. New crop sales were shown at 51k RBs for a net forward book of 2.309 million. That is half the forward sales volume from the same time last season.
USDA’s weekly Cotton Market Review had 13,968 bales sold in the DSQ system for the week at an average price of 76.52 cents/lb. The Cotlook A Index was 20 points lower to 91.90 cents/lb on 7/13. The AWP was lowered 56 points to 64.94 cents/lb. ICE certified stocks were 8,926 bales as of 7/13.
Dec 23 Cotton closed at 81.22, down 46 points,
Mar 24 Cotton closed at 81.35, down 40 points,
May 24 Cotton closed at 81.32, down 41 points