Cotton Finished Higher

Cotton futures came back down after posting midday highs, but front months ended mixed at 6 lower to 18 higher. This morning the USDA GAIN reports focused on cotton, they reported that Brazilian cotton expansion is slowing down, with 19/20 MY plantings only growing 2% yr/yr. The USDA reported an estimate for the 19/20 Brazilian cotton harvest to be 12.67 million bales. The report also showed that Brazil’s cotton exports would rise 41.6% yr/yr with a 3% increase in domestic consumption. The Seam online cotton trading reported another very active day for 12/10 with 21,933 bales sold at an average gross price of 59.89 cents per bale. The Cotlook A Index fell 50 points on 12/10 to 74.85. The weekly AWP is 55.97 cents/lb through tomorrow afternoon.

Mar 20 Cotton is at 65.87, down 6 points,

May 20 Cotton is at 66.93, up 3 points

Jul 20 Cotton is at 67.77, up 18 points

Oct 20 Cotton is at 67.91, unch

---provided by Brugler Marketing & Management

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