Cotton Pulls Back on Tuesday

At the close for the Tuesday session, front month cotton futures were 14 to 69 points in the red. Dec futures were the firmest, narrowing the inverse to July by 55 points to 2.11 cents.

Census data showed US March cotton shipments were 1.637m bales. That was up 4% from February, but down from 2.003 million bales in March 2020. Accumulated cotton shipments were 11.12m bales which remains at record pace for the marketing year. 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.

USDA’s 5/2 DSQ showed 892 bales were sold at spot, mostly in the N. Delta. 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 87.17, down 69 points,

Oct 21 Cotton  closed at 86.67, down 35 points,

Dec 21 Cotton  closed at 85.06, down 14 points




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