Cotton Lower at Midday

Cotton futures are steady to 72 points lower on Monday. Parts of northern TX and the Southeastern US did receive some precip this weekend. NASS will release updated crop conditions this afternoon, with TX seen fairly dry this week. Commitment of Traders data through last Tuesday showed spec traders in cotton futures and options reduced their net short position to 44,642 contracts. The Cotlook A Index was unchanged on August 16 at 70.90 cents/lb. The weekly AWP is 52.22 cents/lb, a slight decline from last week but still above loan rate.

OCT 19 Cotton is at 60.03, down 5 points,

DEC 19 Cotton is at 59.41, down 72 points

MAR 20 Cotton is at 60.11, down 61 points

MAY 20 Cotton is at 61.16, down 47 points

--- provided by Brugler Marketing & Management

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