Cotton Market News and Commentary

Cotton futures are trading 49 to 53 points higher here on Friday morning. They settled the Thursday session with most contracts 20 to 38 points in negative territory. The dollar was up 428 points on Thursday, providing a little pressure to the export driven commodity. The buck is weaker this morning on pre-weekend profit taking. A Farm Futures survey estimates 2019 US cotton acres at 14.6 million acres, which is a 4.1% increase from the year prior and well above the recent Cotton Grower estimate. The Cotlook A Index was down 75 points on January 23 to 82.55 cents/lb. Estimated AWP was 64.07 for the past week, with a higher figure expected for the coming week. These are just for reference, as USDA has not been issuing the official numbers, coarse count adjustments, etc.

--provided by Brugler Marketing & Management




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