Cotton Higher, Supported by Lower Dollar

Cotton futures are 25 to 48 points higher in the active front months on Friday, as nearby May and Oct are showing no trade. The Dollar is lower at midday providing a little support. All upland cotton export commitments are 13% below a year ago and are 99% of USDA’s projected 15 million bales, compared to the 98% average. Actual exports are 61% of that projection, with the normal pace at 69%. The weekly Average World Price (AWP) is now 68.27 cents/lb, down 41 points from the previous week. The Cotlook A index was UNCH from the previous day on May 2 at 86.20 cents/lb. China will begin weekly auctions of reserve cotton beginning next week and running through the end of September. Quantity will be 10,000 MT per day, which is down from previous years.

Jul 19 Cotton is at 75.93, up 48 points

Dec 19 Cotton is at 74.670, up 25 points

--provided by Brugler Marketing & Management

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