Cotton futures are currently 80 to 89 points lower on Tuesday, on a little bit of profit taking. Friday’s Cotton classing report showed that 598,507 bales of upland cotton were classed for the week that ended January 18. That brings the total for the marketing year to 16.889 million bales. This morning’s USDA Cotton Ginnings report showed 17.43 million RB had been ginned as of January 15. That was a 1.277 million RB jump since Jan 1, and is 17% larger than this time last year. Online cash sales on the Seam totaled 19,538 bales on Monday, with prices down 36 points, averaging 72.32 cents/lb. The Cotlook A Index for January 22 was up 75 points from the previous day at 94.10 cents/lb.

Mar 18 Cotton is at 82.52, down 89 points,

May 18 Cotton is at 82.98, down 80 points

Jul 18 Cotton is at 83.39, down 80 points

Market Commentary provided by:

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