Cotton Down on Light Export Sales

Cotton futures posted 92 to 126 point losses in most contracts on Thursday. The USDA showed just 144,778 RB in old crop upland cotton export sales for the week of 4/25. That was a 6-week low and down 23.75% from the same week a year ago. Turkey was the lead buyer of 42,600 RB, with India at 32,800 RB and China at just 9,944 RB. New crop sales were tallied at 56,320 RB, with 17,600 RB for China. Shipments were reported at 292,621 RB, down 8% from last week and 32.35% from the same week a year ago. The Cotlook A Index was down 35 points at 86.20 on May 1. The weekly Average World Price (AWP) is now 68.27 cents/lb, down 41 points from the previous week.

May 19 Cotton closed at 74.650, down 126 points,

Jul 19 Cotton closed at 75.450, down 126 points

Oct 19 Cotton closed at 74.280, down 120 points

--provided by Brugler Marketing & Management

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