Cotton

Cotton futures posted losses of 143 to 248 points to start the week.Hurricane Irma is now Tropical Storm Irma and is now in Georgia. Georgia represented 14% of total estimated US cotton production in the August NASS report. After the close the USDA showed 34% of the bolls opening, vs. the average of 40%. As of Sunday, 9% of the crop was harvested, compared to the average of 4%. Conditions fell 2% to 63% gd/ex, as the Brugler500 was down 2 to 365. Total export commitments for all upland cotton are now 54% of the USDA export projection. That is above the average of 38% and last year’s 33%. The Cotlook A index for September 8 was 25 points lower than the previous day to 84.05 cents/lb. China sold 26,600 MT of the 28,300 MT offered at an auction of state cotton reserves on Monday.

Oct 17 Cotton closed at 73.710, down 188 points,

Dec 17 Cotton closed at 72.110, down 248 points

May 18 Cotton closed at 71.760, down 191 points




Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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