Cotton Lower Again on Tuesday

Cotton futures are down 4 to 38 points in most contracts at midday, following Monday’s Triple digit losses. Chinese trade reps are still planning to head to DC this week. The Monday afternoon Crop Progress report indicated that 18% of the US cotton crop was planted by May 5, a move of 7% from the week prior. That is even with a year ago but lagging the average by 1%. Planting progress in TX was even with the average at 16%, with GA now 8 points faster than normal at 23%. The weekly Average World Price (AWP) is now 68.27 cents/lb, down 41 points from the previous week. The Cotlook A index was down 125 points from the previous day on May 3 at 84.95 cents/lb.

May 19 Cotton is at 72.27, down 38 points,

Jul 19 Cotton is at 73.4, down 15 points

Dec 19 Cotton is at 72.870, down 4 points

--provided by Brugler Marketing & Management

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