Cotton Market Commentary

Cotton futures are trading 57 to 81 points to the plus side on Thursday. NASS trimmed the national cotton production total to 18.408 million bales today, down 1.355 million due mostly to cuts in GA and AL following Hurricane Michael. The national yield projection was cut by 49 lbs to 852 lb/ac. That tightened the US carryout number to 4.3 million bales (down 0.7). World ending stocks were down 1.84 million bales to 72.61 million, with the help of a smaller Indian crop @ 28 million bales as well as tighter US stocks. The weekly Export Sales report indicated that a modest 91,007 RB of upland cotton was sold for 18/19 exports in the week of 11/1. Vietnam was the lead buyer of 87,400 RB, with 57,958 RB shown as net reductions for China. Sales for 19/20 totaled 15,488 RB. The Cotlook A index was down 150 points from the previous day at 86.85 cents/lb on November 7. The USDA weekly AWP was updated 69.86 cents/lb through next Thursday, up 130 points from last week.

Dec 18 Cotton is at 79.77, up 81 points,

Mar 19 Cotton is at 81.35, up 78 points

May 19 Cotton is at 82.64, up 69 points

Jul 19 Cotton is at 83.620, up 57 points

--provided by Brugler Marketing & Management

Market Commentary provided by:

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