Cotton

Cotton futures lost 119 to 170 points in most contracts on Thursday. Pressure came from a sharply higher dollar, as it was up 542 points. Upland cotton old crop export sales for the week of June 8 were a disappointing 69,417 RB, 16.05% behind last week but 8.35% larger than last year. New crop sales were well above last year at 197,598 RB. Shipments of upland cotton were down 26.2% wk/wk at 233,257 RB, but rose 65.66% over last year. The new AWP for this week is 67.31 cents/lb through next Friday, down 72 points from the previous week.The Cotlook A index for June 14 was 50 points lower at 85.50 cents/lb. China sold just 14,200 MT of the 29,900 MT of cotton offered at an auction of state reserves on Thursday.

Jul 17 Cotton closed at 71.910, down 159 points,

Oct 17 Cotton closed at 71.220, down 170 points

Mar 18 Cotton closed at 69.440, down 158 points




Market Commentary provided by:

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