Cotton Market News and Commentary

Cotton futures are trading 2 to 21 points lower this morning. The dollar is firmer. Cotton futures were 30 to 64 points higher on Turnaround Tuesday. Last Friday, a total of 16,358 bales of cotton was sold on The Seam at an average price of 68.78 cents. Monday’s trade was a little lighter at just 508 bales @ 58.15 cents. The Cotlook A Index was down 75 points on February 4 to 83.00 cents/lb. The USDA Adjusted World Price is 65.07 cents/lb through Thursday, up 17 points from the previous week. USDA will release updated production data on Friday, which was delayed in January. CFTC released year end data on Tuesday, confirming that the speculative net long in cotton had dwindled to only 5,556 contracts as of December 31.

--provided by Brugler Marketing & Management

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