Cotton Lower at Close

Monday trading pushed cotton futures 51 to 96 points lower. In the weekly Crop Progress report from NASS, 63% of cotton was squaring and 18% was setting bolls. National squaring is 1 ppt ahead of average, led by AZ which is 99% squared compared to their average of 87%. TX cotton is 4 ppts ahead of average at 58% squared. 2020/21 cotton setting bolls is 3 percentage points behind the 5-yr average of 21%. Cotton conditions were a 322 on the Brugler500 index, down a point week to week and down 18 points from initial. USDA reported the weekly average spot price at 59.91 cents/lb, which was 235 points higher. Last week’s sales on The Seam totaled 24,501 bales at a wtd average price of 57.39 cents/lb. The July 10 Cotlook A index was down by 45 points to 69.70 c/lb. The AWP for cotton for this week is 51.48 cents/lb., with a 0.52 cent LDP. ICE certified stocks are 38,138 bales.

Oct 20 Cotton closed at 63.75, down 96 points,

Dec 20 Cotton closed at 63.35, down 96 points

Mar 21 Cotton closed at 64.04, down 79 points

May 21 Cotton closed at 64.68, down 66 points

--- provided by Brugler Marketing & Management

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