Cotton Fell another Triple Digits

Wednesday trading in the cotton futures market lowered prices another 268 to 300 points, with Dec the weakest on the day. Cotton consumption through February on the spinning system was 1,691 RBs, which was up 10.5% mo/mo but 8.7% lower than consumption from Feb 2019. Cotton stocks were 1,968 RBs on Feb 29. The implied cotton stocks to use was 1.16, compared to 1.837 from Feb 2019. Brazil’s March cotton lint exports totaled 140,7000 MT, which was up 44% yr/yr. The online cotton trading platform The Seam has yet to record any meaningful sales since March 18th. ICE certified cotton stocks are still 28,446 bales. The Cotlook A index was 60.90 cents per pound on March 30, which was another 40 points lower. The AWP for cotton is 44.99 through tomorrow. The LDP is 7.01.

May 20 Cotton is at 48.41, down 272 points,

Jul 20 Cotton is at 48.22, down 268 points

Oct 20 Cotton is at 50.31, down 290 points

Dec 20 Cotton is at 50.41, down 300 points

--- provided by Brugler Marketing & Management




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