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Thursday Cotton Grabbed Triple Digits
BRUG - Thu Dec 12, 4:41PM CST

Cotton futures closed in the black, with old crop advancing triple digits. Weekly export sales data released from the USDA this morning showed that cotton sales were up 70% wk/wk with combined net sales shown at 283,676 RB, sales were also above the 5-week average of 277k RB. The report showed accumulated exports of cotton grew 6% to 3.286 MRB on the MY, which is 15.67% above last year’s pace. The Seam online cotton trading reported another active day for 12/11 with 14,209 bales sold at an average gross price of 58.42 cents per bale. The Cotlook A Index regained yesterday’s 50 points and is back to 75.35 for 12/11. The updated AWP for cotton increased by 69 points to 56.66 cents per lb. The previous movement was a 23 point decrease. China outbought Pakistan in cotton sales, for the week ending 12/05. The PRC is typically the third largest purchaser of cotton export sales, with Pakistan having been the top purchaser through November for 3/4 of the weeks.

Mar 20 Cotton closed at 67.22, up 134 points,

May 20 Cotton closed at 68.16, up 121 points

Jul 20 Cotton closed at 68.74, up 99 points

Oct 20 Cotton closed at 68.01, unch

---provided by Brugler Marketing & Management

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