Cotton Market Up 21 to 27 Points

The cotton market starts off with gains of 21 to 27 points while it waits for some sort of Chinese confirmation that the trade deal is a go. Cotton futures closed in the black on Thursday, with old crop advancing triple digits. Weekly USDA export sales were up 70% wk/wk with combined net sales shown at 283,676 RB. Those sales were also above the 5-week average of 277k RB. The report showed accumulated exports of cotton grew 6% to 3.286 MRB on the MY, which is 15.67% above last year’s pace. The Seam online cotton trading reported another active day for 12/11 with 14,209 bales sold at an average gross price of 58.42 cents per bale. The Cotlook A Index regained yesterday’s 50 points and is back to 75.35 for 12/11. The updated AWP for cotton increased by 69 points to 56.66 cents per lb. The previous movement was a 23 point decrease.

---provided by Brugler Marketing & Management




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