Cotton Market News and Commentary

Cotton futures posted 21 to 26 point gains on Wednesday. Crude oil was up $0.92/barrel on the day. The US dollar index dropped 376 points lower on the day following the two-day Fed meeting. They left rates UNCH this month and noted patience with future rate adjustments. US and Chinese trade officials met in DC starting today. Traders are waiting to see what comes out of the meetings, with still a month left in the 90-day deadline. The Cotlook A Index was down 25 points on January 29 to 83.35 cents/lb. The USDA Adjusted World Price is 64.90 cents/lb, and will be updated on Thursday afternoon.

Mar 19 Cotton closed at 74.360, up 21 points,

May 19 Cotton closed at 75.740, up 26 points

Jul 19 Cotton closed at 77.020, up 25 points

--provided by Brugler Marketing & Management




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