Cotton Lower on Wednesday

Cotton futures were 41 to 59 points lower in the front months on Wednesday. The US dollar index was higher again on Wednesday. The Crop Progress report indicated that TX planting progress was 48% planted (4% above normal), with GA 76% complete vs. the 68% average. The Cotlook A index for May 28 was up 100 points from the previous day to 79.50 cents/lb. The weekly Average World Price (AWP) is now 59.37 cents/lb, down 14 points from last week. The weekly Export Sales report is pushed back until Friday due to Monday’s holiday.

Jul 19 Cotton closed at 69.060, down 41 points,

Oct 19 Cotton closed at 68.580, down 59 points

Dec 19 Cotton closed at 67.980, down 49 points

--provided by Brugler Marketing & Management

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