Cotton futures are posting sharp 201 to 214 point losses on Monday, with Oct only down 16 points in thin trade. The US dollar index is 450 points higher at the moment. A delayed CFTC report through January 8 showed speculative money managers net short for the first time since April 2016. The Cotlook A Index was down 80 points on February 8 to 82.05 cents/lb. The USDA Adjusted World Price is 64.61 cents/lb through Thursday. USDA trimmed their cash average price for cotton on Friday to 71-73 cents, with the mid-point down 2 to 72 cents. China’s ag ministry raised their 18/19 production number by 0.1 to 6.04 MMT, while also raising their import projection by the same to 1.6 MMT.
Mar 19 Cotton is at 70.41, down 214 points,
May 19 Cotton is at 71.61, down 208 points
Jul 19 Cotton is at 73, down 201 points
Oct 19 Cotton is at 74.150, down 16 points
--provided by Brugler Marketing & Management