Cotton Market News and Commentary

Cotton futures are trading steady to 3 points firmer this morning. They 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 are meeting in DC. Traders are waiting to see what comes out of the meetings, but aware that the 90-day grace period has another month to run. 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 later today.

--provided by Brugler Marketing & Management

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