Cotton Market Mostly Higher

Cotton futures were higher by 14 to 43 points in the front months, Dec contracts did close down by 3 points. This came after front months having been mostly lower following the report. 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. TX cotton planting intentions were up the most, with a yr/yr increase of 251,000 acres to 7.313 million. GA planned acreage was 1.3 MA which was 100,000 acres lower yr/yr. 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 closed at 51.13, up 43 points,

Jul 20 Cotton closed at 50.9, up 34 points

Oct 20 Cotton closed at 53.21, up 14 points

Dec 20 Cotton closed at 53.41, down 3 points

--- provided by Brugler Marketing & Management

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