Cotton Market As Much as 71 Points Higher

Cotton Futures start Thursday 40 to 71 points higher, with nearby December in the lead. December options expire on Friday, driving some position squaring. Cotton futures were mostly lower in the nearby contracts after Wednesday’s session. Jul contracts rose 8 points, but the nearbys were lower by 9 to 27 points. The accumulated online sales, as per the Seam, are up to 6,518 bales as of 11/5. Last week’s total sold was 17,146 bales, at an average pace of 2,449 bales per day. The Cotlook A Index for 11/5 had decreased by 35 points, to 74.70 cents/lb. The AWP will be updated later this afternoon, it has been 57.33 cents/lb since 10/31.

--provided by Brugler Marketing & Management

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