Alan Brugler – Barchart
Thu Sep 22,
Cotton ended the day above the open after a light gap lower, but were still down by 31 to 42 points compared to yesterday’s settle. For the Dec contract that left the board in a 274 point range on the day, and stayed within the week’s wide 7.36 cent range.
The weekly FAS data showed 32,432 RBs of cotton was sold for export during the week that ended 9/15. That was a third of last week’s sale and a tenth of the same week last year. Cotton commitments through the first 7 weeks of the season reached 7.989m RBs – up 20% yr/yr.
The Cotlook A Index was another 265 points lower to 111.95 cents/lb. USDA dropped the AWP for cotton by 629 points to 88.88 cents/lb. ICE certified stocks fell 3,783 bales to 769 as of 9/21.
Dec 22 Cotton closed at 96.54, down 38 points, Mar 23 Cotton closed at 93.67, down 39 points, May 23 Cotton closed at 91.49, down 35 points. (Source: barchart.com)