Cotton

Cotton futures are trading 70 to 150 points lower after they posted losses of 143 to 248 points to start the week after less crop damage than expected was shown in the weekly report. Georgia represented 14% of total estimated US cotton production in the August NASS report and is seeing some wind and rain damage. NASS reported 51% of the GA acreage with bolls open. Texas reported 15% of the crop in poor/very poor condition, but the state overall had a 73 on a 100 point index, which is still above last year. After the Monday close the USDA showed 34% of the bolls opening nationally, 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%.




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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