Cotton

Cotton futures are trading 18 to 56 points lower this morning. They were sharply lower in most front months on Friday despite a weaker dollar. The USDA Export Sales report showed all upland cotton sales near the MY low at 67,684 RB for old crop. That was 85.19% lower than what was reported last year and a 75.39% reduction from the previous week. Upland shipments for the week totaled 232,547 RB, 2.14% above last year. Export commitments of upland cotton are now 21% above last year, but the lead shrank 5.4% from a week ago on the lower sales. The Adjusted World Price was updated by USDA to 75.30 for the week that ends next Thursday, up 85 points from the previous week. The Cotlook A index on January 25 was UNCH at 92.85 cents/lb.




Market Commentary provided by:

Brugler Marketing & Management LLC
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