Cotton Market Down 61 to 88 Points

Cotton is down a sharp 61 to 88 points this morning. Monday trading saw wide ranges on the board, but ultimately left futures 26 to 28 points in the red. The Crop Progress report noted 66% of cotton had open bolls. Harvest was 13% completed as of 9/27. That is up from 11% last week and 1 percentage point behind the 5-yr average pace. Texas cotton harvest was reported at 22% compared to the 5-yr average of 18%. Cotton condition ratings scored a 316 on the Brugler500 index, which was down 3 wk/wk. In Georgia, cotton conditions fell 13 points on the Brugler500 to 360. The Cotlook A index was back up by 15 points for Sept 25, to 70.75 c/lb. The AWP for cotton is 50.45 cents/lb, the week’s LDP is 1.55 cents.

--- provided by Brugler Marketing & Management




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