Triple Digit Losses for Cotton

Cotton futures head into the extended holiday weekend with 219 to 293 point losses. USDA’s Daily Spot Quotations report for 4/1 showed 3,044 bales were sold. The Cotlook A index for 3/31 was 20 points higher at 87.40 cents/lb. USDA’s new AWP for cotton to 2.96 cents to 65.59 cents/lb.

USDA reported 1,008 RBs of cotton were used in February via the monthly Cotton System Consumption and Stocks report. The Feb stockpile was down to 3,180 RBs, representing a 315 Stocks to Use for Feb.

USDA’s weekly export sales report showed 78,377 RBs of cotton booked on the week that ended 3/25. That was a MY low, as Indonesia canceled 119,500 RBs. Accumulated cotton commitments for the MY are now at 14.577m RBs. 41,380 RBs were sold on the week for 2021/22 delivery, bringing the total forward book to 1.543m RBs.  

May 21 Cotton  closed at 77.95, down 293 points,

Jul 21 Cotton  closed at 79.27, down 290 points,

Dec 21 Cotton  closed at 77.91, down 219 points




<p>Market Commentary provided by:<br /> <img src="https://s3.amazonaws.com/images1.aws.barchart.com/logos/bruglerlogo.gif" border="0" /><br /> Brugler Marketing &amp; Management LLC<br /> 1908 N. 203rd St.Omaha, NE 68022<br /> Phone: 402-697-3623<br /> Fax: 402-289-2353<br /> E-mail: <a href="mailto:alanb@bruglermktg.com">alanb@bruglermktg.com</a><br /> Web: <a href="http://bruglermarketing.com/">http://bruglermarketing.com</a></p> <p align="center"><!-- [if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> 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