Cotton Up Sharply

Cotton futures are rallying with a vengeance, up 31 to 102 this morning after leaking lower for a couple days. Yesterday cotton futures came back up from midday lows, but still closed as much as 28 points lower. Weekly export sales for cotton during the week ending 01/09 were 232,935 RBs. That was a 53.27% increase wk/wk and a 43.03% increase over the same week last year. Shipments from the same report were listed at 301,710 RBs, which was a 42% increase over last week and a 22 week high, pushing MYTD shipments to 4.439m RBs. MYTD exports for cotton are 16.45% higher yr/yr, and have averaged 15.68% over the last 8 weeks. On 01/15 the online cotton trading platform The Seam reported 7,896 bales sold which pushed the weekly total to 65,747 bales. The 01/15 Cotlook A index was steady and remained at 80.20. The new AWP for cotton is up 60 points to 61.40 cents/lb.

---provided by Brugler Marketing & Management




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