Cotton Market Soft to Begin Friday

Cotton trading overnight resulted in 51 to 73 point declines from the Thursday close. At the Thursday closing bell, cotton futures prices were down by 20 to 23 points. Old crop cotton bookings from the Export Sales report were 43,772 RBs on the week ending July 2. That was down 35% wk/wk and 18% below the same week last year. Total commitments through July 2 (17.03m RBs) are still 11% above last year and the highest since the 2005/06 MY. Old crop sales to China accounted for 50.2% of the total. The Seam reported 4,054 bales sold at an average gross price of 59.26 cents/lb. WTD sales on The Seam were 7,767 bales at a wtd av price of 60.07 c/lb. The July 7 Cotlook A index was down 25 points lower to 69.45 c/lb. The AWP for cotton for this week is up 135 points to 51.48 cents/lb. The week’s LDP is now down to 0.52 cents.

--- provided by Brugler Marketing & Management




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