Cotton

Cotton futures are 19 to as much as 54 points higher this morning ahead of the USDA supply/demand report. They were mixed on Wednesday with front months 6 to 23 points lower and deferred contracts steady to 21 points in the green. The US dollar was 751 points higher on Wednesday and is a little bit higher this morning. Trade date from the US Census shows 304,531 MT of US cotton was exported during December. That was 8.23% larger than a year ago and 92.42% above November. The USDA Adjusted World Price or AWP, currently at 71.35 cents/lb, will be updated on Thursday afternoon. The Cotlook A index on February 6 was 87.20 cents/lb, down 90 points from the previous day. Online cash sales reported on the Seam were shown at 7,640 bales, with price averaging 70.69 cents/lb, down 20 points from the previous day.




Market Commentary provided by:

Brugler Marketing & Management LLC
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