Cotton Closed down another Triple Digits

Cotton futures were down at least 100 points after Thursday’s third consecutive triple digit day. Low volume October futures were down the most, closing with a loss of 294 points. The online cotton trading platform The Seam sold 20,234 bales at an average gross price of 61.39 cents/lb on 01/22. The week’s total is 23,578 bales through Wednesday, compared to last week totaled 99,899 bales sold. USDA’s bi-monthly cotton ginnings report showed that as of the first half of January 18.288 million 480 bales where ginned. Despite the low January ginnings, the 19/20 MY continues to outpace each of the last 12 years. The 01/22 Cotlook A index was down by 180 points to 78.40 cents/lb. The updated Adjusted World Price for cotton is 61.29 following a drop of 11 points from the previous week.

Mar 20 Cotton closed at 70.03, down 110 points,

May 20 Cotton closed at 70.75, down 109 points

Jul 20 Cotton closed at 71.59, down 115 points

Oct 20 Cotton closed at 69.79, down 294 points

---provided by Brugler Marketing & Management

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