Cotton Market Shows Triple Digit Overnight Loss

Cotton futures are trading 102 to 120 points lower this morning. They settled with losses of 99 to 121 points in most contracts on Monday. NASS showed 47% of the US cotton crop was squaring as of Sunday (54% avg), with 13% setting bolls (16% avg). Condition ratings improved 2% to 54% gd/ex, with the more inclusive Brugler500 index showing ratings up 4 points to 340. The Cotlook A index for July 5 was UNCH from the previous day at 78.35 cents/lb. The USDA AWP is 59.32 cents/lb through Thursday. The weekly Cotton On-Call report from CFTC showed mills at a total of 32,814 contracts of unfixed call sales for December, with unfixed call purchases at 39,149 contracts.

--provided by Brugler Marketing & Management




Market Commentary provided by:

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