Cotton futures are trading on both sides of UNCH this morning. They posted sharp losses in the front months yesterday, with back months 24 to 60 points lower. The US dollar pressured the market lower, along with profit taking. The first index funds also start rolling out of March long positions at the end of the month. Export commitments of upland cotton 83% of the USDA full year projection, vs. the average for this week at 75% and last year’s 68%. 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 at 92.85 cents/lb, down 45 points from the previous week. Online cash sales on Friday totaled 12,648 bales, with prices down 333 points to 72.96 cents/lb.

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