Cotton Closed Higher on Thursday

Cotton futures backed off of midday highs, but held on enough to close with a gain. May was the strongest with a 158 point move; Oct and Dec gained 71 points. The weekly update to Export Sales showed 147,535 RBs of cotton sold on the week ending March 26. That was down 47% wk/wk and was 54% below the same week from a year ago. The report showed 8.627 million RBs shipped through the first 35 weeks of the MY. That is 20.8% above last year’s pace. Of the total exports reported, 12% were to China, compared to last year when the nation accounted for 10.3% of the total. February cotton exports totaled 1.97 million (480-lb) bales. That was a MY high and 32.7% above Feb ’19. The Cotlook A index was up 60 points to 61.50 cents per pound on April 1st. The AWP for cotton was lowered 236 points to 42.63 cents/lb. The LDP was increased to 9.37 cents/lb.

May 20 Cotton closed at 49.99, up 158 points,

Jul 20 Cotton closed at 49.76, up 154 points

Oct 20 Cotton closed at 51.02, up 71 points

Dec 20 Cotton closed at 51.12, up 71 points

--- provided by Brugler Marketing & Management

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