Cotton Futures are Mixed on Monday

Cotton futures are made a 12 point gain in the Dec contracts, however the other front months were lower by 14 to 50 points. The monthly Cotton System utilization report from NASS, showed that 1,283 running bales of cotton were consumed through October. That comes as an increase of 1.6% over last month, and a 26.4% drop from the October 2018. The 5-year average, including this year, has been updated to 1,995.8 RB for the month. The yearly average is now 1,636.3 RBs, which would be the lowest yearly average in 5 years. The report showed October stocks out ahead of September, but 18.08% behind October of ’18, at 2,845 RB. Cotton harvest, per the USDA weekly crop progress report, is now 83% completed. The four year average for the week ending 12-01 is 81%, and last year harvest was 74% complete through the same point. LA has been reported to be 100% complete with AR and MS closely behind at 97 and 99% respectively. The 11/29 Cotlook A Index was brought to an even 75 cents per pound, after a slight 10 point drop. . The AWP from Friday was 56.20 cents /lb, and is good through Thursday.

DEC 19 Cotton closed at 64.52, up 12 points,

MAR 19 Cotton closed at 64.86, down 50 points

MAY 20 Cotton closed at 65.96, down 43 points

JUL 20 Cotton closed at 66.88, down 14 points

---provided by Brugler Marketing & Management




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