Cotton

Cotton futures are 30 to 50 points higher in the old crop contracts this morning, with new crop December 2 higher. Cotton saw 14 to 41 point losses in the front months on Thursday, with back months higher. The USDA Export Sales report showed sales of 179,354 RB of old crop upland cotton. Shipments of upland cotton were reported at the second largest this MY at 499,560 RB. That was 10.42% above last week and 13.95% larger than this time last year. China was the primary destination @ 90,000 RB, as accumulated exports are now 3.32% lower than last year. Total commitments slipped from last week but are still 16.8% above last year. The USDA Adjusted World Price (AWP) was updated to 74.32 cents/lb, up 2.32 cents from the previous week. The Cotlook A index was up 40 points from the previous day at 92.80 cents/lb.




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