Cotton 23 to 45 Lower in Early Tuesday Trade

Cotton extended Monday losses overnight, and is trading 23 to 45 points lower for the Tuesday session. At the close old crop cotton futures were 22 points weaker. December was up 14 points at the close, but is still a 2.6 cent discount to spot prices.

NASS reported US cotton planting at 16% of the expected area, matching the 5-yr average. TX cotton planting was 19% finished as of May 2. GA was reported at 13% compared to their 14% average.

USDA’s monthly Cotton Systems and Stocks report showed 1,123 RBs of cotton consumed domestically in March. That was down from 1,484 RBs in March of 2020 but was up 11.4% from February’s consumption. Cotton stocks on hand were also tighter relative to Feb, down 3.8% mo/mo to 3,059 RBs.

Sales last week on The Seam were 7,925 bales for a wtd average cash price of 83.68 cents/lb. The 4/30 Cotlook A index was down by another 3 cents to 91.90 cents/lb. The AWP for cotton for the week is 73.71 cents/lb.     

Jul 21 Cotton  closed at 87.86, down 22 points,

Oct 21 Cotton  closed at 87.02, up 55 points,

Dec 21 Cotton  closed at 85.2, up 14 points




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