Cotton futures saw most contracts steady on Tuesday, with the nearby contracts slightly lower and back months slightly higher. The National Cotton Council estimates that the US 17/18 export number will reach 15 million bales. That is 500,000 bales more than the USDA has projected. The USDA Adjusted World Price or AWP was updated to 69.45 cents/lb Thursday morning. The Cotlook A index on February 12 was 87.55 cents/lb, up 15 points from the previous day. Cash sales reported on the Seam were shown at 9,558 bales, with the average price down 200 points from the previous day at 69.01 cents/lb.

Mar 18 Cotton closed at 76.380, down 7 points,

May 18 Cotton closed at 77.400, down 5 points

Jul 18 Cotton closed at 78.420, down 2 points

Market Commentary provided by:

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