Cotton Posts Moderate Losses on Friday

Cotton futures saw 28 to 82 point losses in the front months on Friday. All upland cotton export sales in the week that ended on June 30 totaled 141,498 RB for old crop, well above the same week last year and a 4-week high. A total of 14,860 RB was sold to China, with Vietnam the top buyer of 49,900 RB. New crop sales totaled 55,261 RB, with a net reduction of 1,320 RB for China. Total shipments in the week of 6/27 were at 340,365 RB, with 49,471 RB headed to China. YTD shipments are 13.97% lower than the same week last year, with total commitments 5.7% back of last year’s number for this week. The Cotlook A index for July 4 was UNCH from the previous day at 78.35 cents/lb. The USDA AWP is now 59.32 cents/lb through next Thursday, up 1 cent from the previous week. The weekly Cotton On-Call report from CFTC showed mills at a total of 32,814 contracts of unfixed call sales for December, with unfixed call purchases at 39,149 contracts.

JUL 19 Cotton closed at 62.93, down 82 points,

OCT 19 Cotton closed at 66.23, down 32 points

DEC 19 Cotton closed at 66.85, down 40 points

MAR 20 Cotton closed at 67.83, down 28 points

--provided by Brugler Marketing & Management

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