Cotton Market News and Commentary

Cotton futures rallied 70 to 174 points today. The main influence was the USDA Planting Intentions report, which showed only 13.78 million acres for 2019. Last year was 14.099 million and the average trade guess was up around 14.5 million acres following industry surveys back in January and February that suggested expansion. The eye catcher was Texas, the largest cotton production state. Intentions there were down 454,000 acres from 2018. Pima acreage in the Southwest was up about 2%. The Cotlook A Index was down 100 points at 86.30 on March 28. The USDA Adjusted World Price (AWP) is now 68.23 cents/lb, good through next Thursday.

May 19 Cotton closed at 77.610, up 174 points,

Jul 19 Cotton closed at 78.310, up 143 points

Oct 19 Cotton closed at 75.980, up 70 points

--provided by Brugler Marketing & Management

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