Cotton Post Losses on Higher Projected Production and Carryout

Cotton futures ended the Monday session with 75 to 112 point losses. USDA data on Monday showed 13.903 million planted acres of cotton following USDA’s resurvey, up 180,000 acres from July. Data out of the FSA showed 490,058 acres of prevent plant for cotton as of August 1. The projected yield from NASS was 855 lb/ac, up 10 pounds from July. US carryout for old crop was up 250,000 bales to 5.25 million bales, as new crop ending stocks were up 500,000 bales to 7.2 million. World stocks for 18/19 were up 1 million to 80.27 million bales, as new crop was up 2.03 million to 82.45 million bales. NASS Crop Progress data showed 77% of the crop setting bolls (76% avg), with 20% of the crop with bolls opening (10% avg). Condition ratings were up 2% to 56% gd/ex, with the Brugler500 index up 5 to 354. The Cotlook A was up 70 cents on August 9 at 71.00 cents/lb. The weekly AWP is 52.67 cents/lb, down 4.29 cents from the previous week.

OCT 19 Cotton closed at 57.93, down 112 points,

DEC 19 Cotton closed at 58.15, down 75 points

MAR 20 Cotton closed at 58.96, down 90 points

MAY 20 Cotton closed at 60.17, down 88 points

--provided by Brugler Marketing & Management




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