Cotton Sharply Lower On Profit Taking

Cotton futures posted sharp triple digit losses in the front months on Monday. USDA showed that 7% of the US cotton crop has been planted as of 4/14, according to the weekly Crop Progress report. That is even with the average but behind the 8% from last year. The Seam showed cash sales of 12,381 bales on Friday, with an average price of 65.58 cents, down 189 points from the previous day. The Cotlook A Index was down 50 points at 86.70 on April 12. The weekly Average World Price (AWP) is 69.21, 99 points higher than the previous week and effective through Thursday for USDA program purposes.

May 19 Cotton closed at 76.490, down 162 points,

Jul 19 Cotton closed at 77.040, down 182 points

Oct 19 Cotton closed at 76.090, down 259 points

--provided by Brugler Marketing & Management

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