Cotton Market Down 29 to 65 Overnight

Cotton futures are trading 29 to 65 points lower this morning. They were mostly 8 to 17 points lower on Thursday. All upland cotton export sales totaled 182,316 RB for 18/19 during the week that ended on May 30, with 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 exported 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.

--provided by Brugler Marketing & Management

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