Cotton futures settled with 79 to 142 point losses on Thursday. A stronger US dollar was seen as pressure. The Trade war continues as a meeting between President Trump and President Xi of China has still not been set. The Cotlook A Index was down 20 points on March 12 to 81.55 cents/lb. The USDA Adjusted World Price (AWP) was updated to 64.10 cents/ lb on Thursday, up 68 points from the week prior. This morning’s USDA report indicated that US exporters sold 166,125 RB of old crop upland cotton in the week of 3/7. That was up 45.69% from last week but still 48.31% below that week last year. China purchased 49,269 RB of that total, with Turkey buying 35,400 RB. New crop sales totaled 23,008 RB, with China buying 18,966 RB. Export Commitments for 18/19 upland cotton are now 11.8% below a year ago as sales have been lagging. A total of 27,338 bales traded on The Seam on Wednesday, with an average price of 68.09 cents/lb.
May 19 Cotton closed at 74.300, down 142 points,
Jul 19 Cotton closed at 75.450, down 136 points
Oct 19 Cotton closed at 74.330, down 79 points
--provided by Brugler Marketing & Management