After initial weakness for Friday cotton trading, the board has firmed back up for midday gains of 16 to 99 points. USDA’s new cash average price estimate is 3 cents weaker to 77 cents/lb. 

NOAA’s 7-day QPF has heavy rainfall totals for the Gulf coast, with as much as 4” accumulated in the forecast for Southern LA, MS, and AL. 

USDA raised the national average cotton yield by 16 lbs/acre to 783. That lifted production by 270k bales to 13.09 million. Domestic use was also cut by 100k bales, lifting stocks by 400k vs. October to 3.2 million bales. Global numbers saw an 860k bale increase to 113.5 million. World Carryout was 1.58 million bales looser at 81.5 million. 

USDA’s monthly Cotton Ginnings report showed 3.656m bales were ginned as of Nov 1. That is down 14% from last year’s pace, but compares to 3.543m during the fall of 2021. 

The Cotlook A Index was 165 points lower on 11/9 to 87.55 cents/lb. The new AWP for cotton is 64.62 cents/lb, down by 3.49 cents from last week. ICE Certified Stocks were 83,652 bales on 11/8. 

Dec 23 Cotton  is at 77.2, up 68 points,

Mar 24 Cotton  is at 79.59, up 38 points,

May 24 Cotton  is at 80.14, up 1 points