Cotton

Cotton futures are trading 23 to 29 points higher this morning. They ended Thursday with most contracts steady to 66 points higher. All upland cotton old crop export sales were reported at 402,411 RB during the week of Feb 1. That was the second largest weekly total this MY and 93.41% above the same week last year. There was also 118,509 MT reported for new crop, a MY high. The US supply and demand table saw US exports cut 300,000 bales to 14.5 million bales. That caused ending stocks to increase to 6 million bales. Estimated world ending stocks rose 760,000 bales to 88.55 million bales, as both US and China were increased. The USDA Adjusted World Price or AWP was updated to 69.45 cents/lb this morning, which was down 195 points from the previous week. The Cotlook A index on February 7 was 86.95 cents/lb, down 25 points from the previous day.




Market Commentary provided by:

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