Cotton Market News and Commentary

Cotton futures closed 10 lower to 47 higher today. The dollar is weaker and stock market futures are higher in supporting a demand argument. Cotton bounced from chart support on Friday and is trying to hold those gains. The main influence was the USDA Planting Intentions report, which showed only 13.78 million acres for 2019. The Cotlook A Index was down 100 points at 85.30 on March 29. The USDA Adjusted World Price (AWP) is 68.23 cents/lb, good through Thursday. USDA indicated this afternoon that 4% of the US cotton crop is planted (15 tracking states). That is ahead of the five year average of 3% but behind last year’s 6%.

May 19 Cotton closed at 77.360, down 25 points,

Jul 19 Cotton closed at 78.210, down 10 points

Oct 19 Cotton closed at 76.450, up 47 points

--provided by Brugler Marketing & Management

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