Cotton futures close after Monday’s round of trading with 47 point losses in nearby DEC, but Jul futures made an 8 point gain. The 7 day forecast is calling for some moderate to heavy precipitation for North East Texas and most of Oklahoma. The South is forecasted to receive about an inch of accumulated precipitation. The USDA’s weekly crop progress report showed cotton harvest crest above 53% complete. The average pace is 51%, and compared to last year we are 5 percentage points ahead of schedule. Texas was 42% complete, normally 38%, and GA has harvested 67% of their crop 11 percentage points ahead of average. The Cotlook A Index dropped 120 points for 11/01 to 75.25 cents/lb. The weekly AWP from 10/31 is 57.33 cents/lb and will be valid through next Thursday.
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DEC 19 Cotton closed at 63.76, down 47 points, |
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MAR 19 Cotton closed at 65.39, down 25 points |
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MAY 20 Cotton closed at 66.62, down 7 points |
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JUL 20 Cotton closed at 67.57, up 8 points |
--provided by Brugler Marketing & Management
