Cotton Lower at Midday

Cotton futures are down 73 to 76 points in the front months on Tuesday. The market removed “China deal” premium after the US added more Chinese companies to a restriction list due to treatment of the Uighur minority in western China (or other factors). This move came as trade negotiations are underway in Washington DC, with the higher level officials talking on Thursday and Friday. USDA reported 83% of the US cotton crop had bolls opening by Sunday. Harvest was pegged at 25% complete, ahead of the 20% normal pace. Condition ratings for the 15 states were down 1% to 39% gd/ex, with the Brugler500 index indicating a 323 score, UNCH from last week. The Cotlook A Index was unch at 72.25 cents/lb for October 7. The AWP is 53.36 cents/lb, effective through Thursday.

DEC 19 Cotton is at 61.1, down 73 points

MAR 20 Cotton is at 61.82, down 75 points

MAY 20 Cotton is at 62.67, down 76 points

-- provided by Brugler Marketing & Management

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