Cotton Market 18 to 52 Points Higher, Building Carry

Cotton futures are trading 18 to 52 points higher this morning. They were down 34 to 53 points in the front months on Tuesday. The monthly S&D report showed no changes to the US cotton table, with old crop carryout left at 4.65 million bales and new crop at 6.4 million bales. For the world numbers, USDA raise old crop leftover stocks by 1.06 million bales to 77.53, with New crop stocks up 1.57 at 77.26 million bales. USDA raised old crop Chinese imports by 250,000 bales but cut consumption by 500,000 bales to 40 million. The Cotlook A index for June 10 was down 300 points from the previous day to 76.35 cents/lb. The weekly Average World Price (AWP) from USDA is now 61.51 cents/lb through Thursday.

--provided by Brugler Marketing & Management




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