Cotton Futures Recover on Thursday

Big moves in cotton continued on Thursday with the 6th consecutive triple digit move day. Thursday’s big move was a gain, with contracts ending 124 to 174 points in the black. USDA’s Export Sales report showed 275,364 RBs sold on the week ending 02/04. That was down 4% wk/wk, and 17% below the same week last year. China was the top buyer on the week, and the top destination for the 46 week high export of 433,629 RBs. New crop sales of 170,104 RBs brought the forward book above 1 million RBs, now 2% ahead of last season’s forward sales. Weekly shipments totaled 433,629 RB, a MY high. USDA’s Daily Spot Quotations reported just 667 bales sold on Feb 11. The Cotlook A index was another 210 points higher on Feb 10, to 93.2 cents/lb. The week’s new AWP for cotton is 70.32 cents/lb, up by 3.94 cents on the week.

Mar 21 Cotton closed at 86.41, up 174 points,
May 21 Cotton closed at 87.87, up 169 points
Jul 21 Cotton closed at 88.66, up 166 points
Dec 21 Cotton closed at 83.78, up 124 points

--- provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.