Cotton Shrugs Off Supportive Outside Markets on Weak Export Sales Data

Cotton futures are down 27 to 133 points in most contracts on Thursday, mainly from poor export sales data. The dollar index is down 577 points at midday, with crude up $2.90/barrel. The weekly Export Sales report showed old crop upland bookings at a net reduction of 119,275 RB in the week of June 13. China cancelled 69,939 RB, with 84,600 RB in net reductions for Turkey. New crop sales totaled 221,829 RB, the second highest this MY. Turkey purchased 98,200 RB of new crop, with China buying 49,444 RB. The Cotlook A index for June 19 was up 50 points from the previous day to 77.50 cents/lb. The weekly Average World Price (AWP) from USDA is 58.97 cents/lb through Thursday, and will be updated later today.

Jul 19 Cotton is at 64.06, down 132 points,

Oct 19 Cotton is at 65.6, down 133 points

Dec 19 Cotton is at 66.52, down 64 points

Mar 20 Cotton is at 67.220, down 27 points

--provided by Brugler Marketing & Management

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