Cotton Sharply Higher on Monday
Cotton futures posted 79 to 112 point gains on Monday. Front month futures hit an 18-month high of 72.70 earlier on the session. Monday was first notice day for December cotton futures. USDA’s Crop Progress report indicated that cotton harvest was 77% complete as of Sunday, up 8% on the week and 6% faster than the 5-year average. Harvest was 14% faster than normal in TX at 74% complete. The Seam had a large 27,429 bales traded on Friday at an average price of 69.68 cents. The Cotlook A index was down 25 points to 77.90 cents/lb as of November 20. The AWP for cotton is 56.84 cents/lb.
| DEC 20 Cotton closed at 72, up 112 points, |
| MAR 21 Cotton closed at 73.75, up 79 points |
| MAY 21 Cotton closed at 74.6, up 81 points |
| JUL 21 Cotton closed at 75.2, up 80 points |
--- provided by Brugler Marketing & Management
