Cotton futures posted sharp 123 to 200 point losses on Monday. The US dollar index was 424 points higher on the day. A National Cotton Council producer survey released in San Antonio showed intended planted cotton acreage 2.9% larger than last year at 14.5 million acres. The Cotlook A Index was down 80 points on February 8 to 82.05 cents/lb. The USDA Adjusted World Price is 64.61 cents/lb through Thursday. USDA trimmed their cash average price for cotton on Friday to 71-73 cents, with the mid-point down 2 to 72 cents. China’s ag ministry raised their 18/19 production number by 0.1 to 6.04 MMT, while also raising their import projection by the same to 1.6 MMT.
Mar 19 Cotton closed at 70.550, down 200 points, |
May 19 Cotton closed at 71.760, down 193 points |
Jul 19 Cotton closed at 73.130, down 188 points |
--provided by Brugler Marketing & Management
