Cotton Lower on Trade Tensions.

Cotton futures are showing 122 to 202 point losses in most contracts on Thursday. Pressure is coming from the Trade War front. Tariffs on $200 billion of Chinese goods are scheduled to rise to 25% on tonight at 12:01 AM, although that could be delayed with suitable progress in the trade negotiations. Export sales of old crop upland cotton totaled 235,827 RB in the week of May 2, up 22.15% from last year. New crop sales totaled 56,496 RB. China was the buyer of 16,851 RB for 18/19 and 19,800 RB for 19/20. March cotton export were reported at 2.11 million bales, a 42.25% jump from Feb but down 9.37% from last year’s record. The weekly Average World Price (AWP) is 68.27 cents/lb and will be updated later today. The Cotlook A index was down 40 points from the previous day on May 8 at 82.75 cents/lb.

Jul 19 Cotton is at 70.29, down 202 points,

Oct 19 Cotton is at 71.3, down 122 points

Dec 19 Cotton is at 70.88, down 154 points

Mar 20 Cotton is at 71.730, down 150 points

--provided by Brugler Marketing & Management

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