Cotton futures were sharply higher in the front months on Thursday. The Export Sales report showed 383,926 RB in old crop sales for the week that ended 3/1. That was 30% larger than the previous week and 54.23% above last year. New crop sales were a MY high of 252,120 RB. Weekly export shipments were a MY high of 524,187 RB. The USDA updated their US supply and demand table this morning showing a reduction of 500,000 bales in ending stocks to 5.5 million bales. That came from a slight cut in production and an increase in exports. The March Cotton Ginning’s report showed that 910,350 RB were ginned since the past report. That brought the total for the year to 19.599 million RB. The Cotlook A index dropped 270 points lower from the previous day on March 7 at 91.90 cents/lb. The Adjusted World Price (AWP) was updated to 74,13 cents/lb, down 104 points from last week.
May 18 Cotton closed at 85.120, up 226 points,
Jul 18 Cotton closed at 84.550, up 200 points
Oct 18 Cotton closed at 79.780, up 93 points