Cotton Market 33 to 39 Lower Overnight
BRUG - Wed Dec 11, 7:20AM CST

Overnight cotton prices moved 33 to 39 points lower. Cotton futures posted gains ranging from 0 to 56 points in the nearby contracts on Tuesday. The US dollar index is higher this morning. US average cotton yield was lowered by 3% to 761 lbs/acre by USDA. The new lower yield pushed production for the 19/20 crop to 19.48 million bales. The cotton crop is still 1.914 million bales above the 2018 production. Ending stocks were trimmed to 5.5 million bales but the stocks/use ratio of 28.2% is still the worst since 2015/16. The USDA Cotton Ginnings report showed cumulative ginnings have reached 12.930 MRB. That is a 9-year high for the December report. The number grew 3.617 MRB through the latter half of Nov. The Seam reported online cotton sales of 5,327 bales for Monday, last Monday there were 7,655 bales. The Cotlook A Index was back above the 75 mark after a triple digit move on 12/09; the index was up 1.45 to 75.35. The weekly AWP is 55.97 cents/lb through Thursday.

---provided by Brugler Marketing & Management




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