Cotton Posts Triple Digit Gains on Monday

Cotton futures posted 106 to 126 point gains in most contracts on Monday, after posting life of contract lows last week. After the close, NASS showed 60% of the US cotton crop was squared (69% avg) and 20% of the acres were setting bolls (25% avg) as of Sunday. Tropical Storm Barry likely did some damage to Delta cotton, but results may not show up until next week due to the reporting schedule. That was apparent as condition ratings were up 2% to 56% gd/ex and saw a 7 point jump on the Brugler500 index at 347, mainly from fewer poor/very poor ratings. The Cotlook A index for July 12 was down 75 points from the previous day at 74.05 cents/lb. The weekly AWP is 58.05 cents/lb through Thursday.

OCT 19 Cotton closed at 63.42, up 106 points,

DEC 19 Cotton closed at 63.97, up 129 points

MAR 20 Cotton closed at 65, up 126 points

MAY 20 Cotton closed at 65.81, up 113 points

--provided by Brugler Marketing & Management




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