Cotton futures are 126 to 148 points higher this morning as heavy rains and high winds from Hurricane Delta have damaged some of the Southeast crop. Cotton futures closed up 15 to 29 points on Friday. For Dec that completed a 2.8% gain for the week. USDA’s 2020/21 cotton production is 17.05 million bales. The average yield was down 1 at 909 lbs per acre. The Crop Production report showed New Mexico and Oklahoma yields dropped dramatically from September. But those were partially offset by gains to GA (+36 lbs/acre), TX (+25), and MS (+21). The WASDE lifted the season’s cash average price 2 cents to 61 cents per pound. The Weekly Cotton Market Review said 28,834 bales were sold at spot this week. That was 11.3k bales above LW and 15.3k bales above LY. The average spot price for the sales was reported at 61.13 cents/lb, compared to 60.10 LW and 58.81 LY. The Cotlook A index for 10/08 was another 65 points higher to 72.95 cents/lb. The AWP for cotton is 51.48 cents/lb, with an 0.52 cent LDP. The Cotton Ginnings report had 915k RBs ginned through October 1, which was 19% below 19/20’s pace and the lowest since 15/16.. CFTC’s Weekly data release showed cotton spec traders were 53,080 contracts net long on October 6. That was up 1,952 contracts from last week’s net long.

--- provided by Brugler Marketing & Management