Cotton Lower after Weekend

Cotton futures were down by 27 to 72 points at the close on Monday. Cotton harvest was up 8% over last week to 40% complete per the USDA’s crop progress report. That is 5% above average, with Texas 3 percentage points ahead of their average pace. Conditions in the report indicated 41% gd/ex, up 3%, with the Brugler500 unch at 321. The Cotlook A Index was 45 points higher on Oct 18, to 75.45 cents/lb. The updated Adjusted World Price of cotton is now 55.26, up 1.36 from last Thursday’s AWP. Keerti Rathore, from Texas A&M, has genetically removed gossypol from cotton seeds, effectively rendering them harmless, and the FDA has approved his strain of seeds for consumption. Cotton seeds have 49.5 grams of protein/100 grams, and Mr. Rathore hopes they could be a suitable source of protein for feeds or developing nations that face malnutrition.

DEC 19 Cotton closed at 64.44, down 72 points,

MAR 19 Cotton closed at 65.23, down 58 points

MAY 20 Cotton closed at 65.98, down 37 points

JUL 20 Cotton closed at 66.49, down 27 points

-- provided by Brugler Marketing & Management




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