Cotton Market 30 to 42 Points Higher Overnight

Cotton futures are starting your Friday in the US 30 to 42 points higher. They were mixed in the nearby contracts on Thursday, with October finishing 8 points higher. The weekly Export Sales report from USDA showed 19/20 bookings of 329,140 RB in the week that ended on August 8. That sales total was more than 4 times the same week last year. Sales for 2020/21 were tallied at 151,181 RB, with 117,920 RB sold to Chinese buyers. Shipments of 274,150 RB were reported, with 11,950 RB to China and 57,700 RB headed to Vietnam. The Cotlook A Index was up 130 points on August 14 at 70.90 cents/lb. The weekly AWP is 52.22 cents/lb, a slight decline from last week but still above loan rate. The “costs to market” adjustment for the 2019/20 crop year is 15.20 cents/lb and is included in the calculation of the AWP. It became effective August 9, 2019.

Market Commentary provided by:

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