Cotton

Cotton futures are showing triple digit gains in most nearby contracts at midday. End of month profit taking took cotton down early in the week, and first of month buying is boosting it today. Support is coming from a lower US dollar and a positive Export Sales report. Upland cotton sales during the week of Jan 25 were more than 4 times larger than the week prior at 303,345 RB. That was 7.72% lower than the same week last year, as Vietnam bought 78,200 RB with Turkey purchasing 64,900 RB. The USDA Adjusted World Price, currently 75.30 cents/lb through Thursday, will be updated later today. The Cotlook A index on January 31 was at 87.60 cents/lb, down 125 points from the previous day.

Mar 18 Cotton is at 78.89, up 161 points,

May 18 Cotton is at 79.85, up 149 points

Jul 18 Cotton is at 80.56, up 151 points




Market Commentary provided by:

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