Alan Brugler - Barchart
Thu Sep 29,
At the close for Thursday’s cotton trade, prices were 259 to 333 points in the red. For December that has prices just 262 points above the July low.
USDA’s weekly Export Sales data had 30,222 RBs of cotton sold from the week that ended 9/22. That was down 7% on the week and was just 5% of the same week last year. Pakistan led the sales with 32k RBs, but was partially offset by Turkish reductions. USDA also showed 41.5k MT of 22/23 cotton was sold – mainly to Pakistan and Thailand. Accumulated commitments are still 11% ahead of last year with 8.019m RBs on the books.
The Cotlook A Index was another 25 points lower to 106.70 cents. USDA’s FSA lowered the AWP for cotton by another 646 points to 82.42 cents. ICE certified stocks were up to 1,123 bales. Dec 22 Cotton closed at 85.16, down 333 points, Mar 23 Cotton closed at 82.73, down 312 points, May 23 Cotton closed at 81.33, down 293 points. (Source: Barchart.com)