Cotton Adds to Monday Gains

At midday for the Tuesday session cotton futures are adding 25 to 40 more points to yesterday’s triple digit rally. NASS’s Cotton Consumption and Stocks report noted stocks as of June 27 were 1,512 RBs. That was down 9% mo/mo. According to NASS, 91% of 2020/21 cotton was squaring as of August 2. That matches the 5-yr average. Also in the weekly update, 54% of cotton was setting bolls. That is 1ppt behind average nationally, but in TX and GA crops were 1ppt ahead of their respective averages. Conditions worsened by 4 points on the Brugler500 index. In TX, conditions fell back 8 points on the Brugler500 to 301. The August 3 Cotlook A index was back down by 50 points to 69.55 cents/lb. The AWP for cotton is 47.71 cents/lb, and the LDP is 4.29 cents/lb.

Oct 20 Cotton is at 63.81, up 28 points,

Dec 20 Cotton is at 64.12, up 25 points,

Mar 21 Cotton is at 64.80, up 26 points

May 21 Cotton is at 65.26, up 31 points

--- provided by Brugler Marketing & Management




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