Cotton

Cotton futures are trading 5 to 32 points higher this morning, rebounding from technically oversold conditions. They settled Wednesday with most contracts steady to 39 points higher. The US dollar was slightly weaker. The Federal Reserve left interest rates UNCH, as expected at Janet Yellen’s last meeting as chair. The market is still pricing in 2-3 rates hikes this year. The USDA Adjusted World Price, currently 75.30 cents/lb through Thursday, will be updated tomorrow. The Cotlook A index on January 30 was at 88.85 cents/lb, down 205 points from the previous day. Online cash sales on Tuesday totaled 2,709 bales, with prices down 73 points to 68.61 cents/lb.




Market Commentary provided by:

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