Cotton Prices Lower at Midday

Through midday, cotton futures are lower with July down the most. July prices are 91 points in the red, though new crop futures are limiting midday losses to 53 points.

Census data showed March cotton shipments were 1.637m bales. That was up 4% from February, but down from 2.003 million bales from March 2020. Accumulated cotton shipments were 11.12m bales which remains at record pace. The previous record was 10.75m bales through March during the 2010/11 campaign.

NASS reported 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.

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  is at 86.95, down 91 points,

Oct 21 Cotton  is at 86.79, down 23 points,

Dec 21 Cotton  is at 84.72, down 48 points

Market Commentary provided by:

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