Cotton Close Slightly Lower on Lighter Export Data

Cotton futures were mostly 8 to 17 points lower in most contracts on Thursday. All upland cotton export sales totaled 182,316 RB for 18/19 during the week that ended on May 30, with China at net reductions of 8,997 RB and India buying 144,900 RB. That was well above the same time last year but down 36.86% from the previous week. New crop sales totaled just 51,625 RB. Weekly shipments were at 308,590 RB, a drop of 24.84% wk/wk and down 46.46% from last year. Monthly trade data from Census showed 1.759 million bales in export during April. That is the third largest April total on record but well behind last year’s record. The Cotlook A index for June 5 was down 50 points from the previous day to 79.85 cents/lb. The weekly Average World Price (AWP) is now 61.51 cents/lb through next Thursday, up 20 points from the previous week.

Jul 19 Cotton closed at 68.590, down 15 points,

Oct 19 Cotton closed at 67.410, down 8 points

Dec 19 Cotton closed at 66.670, down 14 points

--provided by Brugler Marketing & Management

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