Cotton futures are trading 6 points lower this morning. They were mostly 9 to 62 points lower on Friday. The USDA export sales report showed 276,491 RB in 2017/18 upland cotton sales for the week ending 11/23. That was 22.56% lower than the previous week but still 36.7% larger than the same week last year. Pakistan bought 71,800 RB, with China purchasing 42,400 RB. Sales for 2018/19 came in at 52,801 RB. All upland cotton shipments were 112,207 RB, 31.14% larger than last week but lagging last year by 14.55%. The USDA Adjusted World Price (AWP) was updated to 64.22 cents/lb on Thursday, up 1.63 cents/lb from the previous week. The Cotlook A index was up 70 points from the previous day points to 82.45 cents/lb on November 29.

Market Commentary provided by:

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