Cotton Market Higher at Midday

Cotton is up 68 to 96 points on Friday trading so far. The dollar is stronger, and equity futures are modestly lower. Census data for February cotton exports totaled 1.97 million (480-lb) bales. That was 32.7% above Feb ’19. USDA’s GAIN report released initial estimates on India’s 2020/21 cotton crop at 28.78 million (480 lb) bales. That would be a 2% drop in production yr/yr, citing a decline in harvested acreage. The April 2 Cotlook A index was back down to 59.15 c/lb, 235 points lower. The AWP for cotton was lowered to 42.63 cents/lb. The LDP increased to 9.37 cents/lb, and both are in effect through next Thursday.

May 20 Cotton is at 50.67, up 68 points,

Jul 20 Cotton is at 50.72, up 96 points

Oct 20 Cotton is at 51.02, unch

Dec 20 Cotton is at 52.01, up 89 points

--- provided by Brugler Marketing & Management

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