Cotton Market Mixed Ahead of USDA Export Sales Data

Cotton futures are hovering within 5 points either side of UNCH this morning. Yesterday the futures front months ended mixed at 6 lower to 18 higher. The USDA GAIN reports indicated Brazilian cotton expansion is slowing down, with 19/20 MY plantings only growing 2% yr/yr. The USDA estimated the 19/20 Brazilian cotton harvest to be 12.67 million bales. The report also showed that Brazil’s cotton exports could 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 this afternoon.

---provided by Brugler Marketing & Management

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