Cotton Market Sees Solid Shipments, Light Sales

Cotton futures are trading 10 to 30 points lower to begin your Monday. They saw 28 to 82 point losses in the front months on Friday. All upland cotton export sales in the week that ended on June 27 totaled 141,498 RB for old crop, well above the same week last year and a 4-week high. 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 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% below 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 59.32 cents/lb through Thursday. 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.

--provided by Brugler Marketing & Management

Market Commentary provided by:

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