Cotton futures settled mixed, with nearby March 17 lower. March futures matched their life of contract high on Thursday but backed off a bit to end the week. The weekly USDA Export Sales report was expected to slow down from last week’s 326,520 RB and it did. Weekly sales totaled 163,700 RB for upland and 12,800 RB for old crop pima. There were another 32,500 RB of upland varieties sold for 2018/19 shipment. The USDA Adjusted World Price (AWP) was increased 262 points to 70.62 cents/lb on Thursday. It is a long way above loan rate! The Cotlook A Index for the 28th was 89.60, up 1.50.

Mar 18 Cotton closed at 78.630, down 17 points,

May 18 Cotton closed at 78.960, up 8 points

Jul 18 Cotton closed at 79.240, up 19 points

Market Commentary provided by:

Brugler Marketing & Management LLC
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