Cotton

Cotton futures are trading 12 to 14 points higher this morning. They were mostly 16 to 36 points lower on Tuesday. The US dollar was down a sharp 516 points on the day. During 2017, Chinese cotton imports totaled 1.16 MMT, which was a 27% increase over the previous year. On Friday, the USDA increased the average midpoint farm price for cotton 3 cents to 69 cents/lb, with a range of 67-71 cents. The USDA Adjusted World Price (AWP) was increased 35 points to 71.21 cents/lb on Thursday. The Cotlook A Index for January 15 was 100 points lower than the previous day at 92.35 cents/lb, following the 300 point increase on Jan 12.




Market Commentary provided by:

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