Triple digit midday losses in cotton have old crop futures within 25 points of a limit loss. July futures are down the most so far with a 380 point drop. New crop prices are also lower with Dec down 312 points to 77.26 cents. A strong dollar isn’t helping, with the DX hitting the highest mark since November.

The weekly Export Sales data release from USDA showed 271,194 RBs were sold in the week ending March 18. That was down 38% from last week and was 21% below sales from the same week last year. cotton shipments were confirmed at 313,514 RBs on the same week, which brought the accumulated export to 9.146m RBs. That is 16% ahead of last season’s pace and remains the largest cotton shipment pace now through 33 weeks.

USDA’s DSQ report showed just 577 bales were sold at spot. The Cotlook A index for March 24 was down another penny to 89.50 cents/lb. The AWP for cotton is 71.45 cents/lb, and will be updated this afternoon after the close.

May 21 Cotton  is at 78.67, down 377 points,

Jul 21 Cotton  is at 79.72, down 380 points,

Dec 21 Cotton  is at 77.26, down 312 points