Midday action has cotton down 83 to 163 points at midday, led by the front months. The outside markets are providing some pressure, with crude oil down $1 and the US dollar index up 144 points. 

The weekly Export Sales release from FAS showed 81,500 RB of old crop upland cotton sales in the week ending on April 4, a 5-week low. New crop was improved from last week, but still at just 35,661 RB. Actual shipments in that week were 274,147 RB, a 9-week low. 

USDA left the US cotton balance sheet alone this month, as they wait for final production data next month. Stocks are still at 2.5 million bales, though the US average farm price was trimmed by a penny to 76 cents. The World cotton S&D table was a 0.26 million bale cut to stocks at 83.08 million bales, mainly on tighter carryover from the previous crop year. 

The Cotlook A Index was back down 50 points to 92.15 cents/lb on April 10. The AWP weakened by another 140 points to 69.48 last Thursday and will be updated later today.

May 24 Cotton  is at 84.08, down 123 points,

Jul 24 Cotton  is at 85.85, down 122 points,

Dec 24 Cotton  is at 80.54, down 89 points