Cotton Market News and Commentary

Cotton futures were mixed on the day, with nearby March up 4 points and other contracts lower. US and Chinese trade officials did make progress during their meetings this week according to trade rep Lighthizer. They are expected to meet again before the March 1 deadline. Export sales of upland cotton were reported at a MY high 373,100 RB for the week of 12/20, with 207,113 RB in exports. A total of 25,031 RB was sold to China, with shipments of 32,455 RB. USDA will finally get caught back up with the Export Sales reports by 2/22. The Cotlook A Index was up 20 points on January 30 to 83.55 cents/lb. The USDA Adjusted World Price is 65.07 cents/lb through next Thursday, up 17 points from the previous week.

Mar 19 Cotton closed at 74.400, up 4 points,

May 19 Cotton closed at 75.660, down 8 points

Jul 19 Cotton closed at 76.900, down 12 points

--provided by Brugler Marketing & Management

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