Cotton Market Mostly Lower

The cotton futures market is down by as much as 56 points with new crop Dec futures down the most so far. May contracts are UNCH at midday. Cotton growers intend to plant 13.7 MA of 2020/21 cotton according to the USDA survey. That is just 35,000 acres lower than last year’s 13.738 MA. Traders were expecting to see between 11.7 and 13.60 million acres, so this was on the high side. The Cotlook A index was 61.30 cents per pound, after a 150 point reduction on 03/30. The Adjusted World Price for cotton is 44.99. The LDP is 7.01.

May 20 Cotton is at 50.7, unch

Jul 20 Cotton is at 50.37, down 19 points

Oct 20 Cotton is at 52.99, down 8 points

Dec 20 Cotton is at 52.88, down 56 points

--- provided by Brugler Marketing & Management

Market Commentary provided by:

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