Cotton 7 to 20 Points Lower

Cotton futures are trading 7 to 20 points lower after they closed 13 to 35 points higher on Tuesday. Cotton harvesters tried to get ahead of this week’s forecasted wet weather, as the USDA crop progress report indicated cotton harvest is about a week ahead of last year’s pace, and is 3 percentage points ahead of average with 62% of the 19/20 crop harvested. Online cash sales reported on The Seam from Veteran’s Day were 1,130 bales, last week’s total was 20,117 bales at a weekly average (average) price of 57.86 cents/bale. The Cotlook A Index for 11/11 was 55 points higher to 75.95 cents/lb. The AWP will remain at 56.63 cents/lb through tomorrow.

--provided by Brugler Marketing & Management

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