Cotton Market News and Commentary

Cotton futures are 13 to 14 points lower this morning after they were down 56 to 69 points in the nearby contracts on Tuesday. Crude oil saw sharp $3.64/barrel losses on Tuesday. That means potentially cheaper synthetics. The Fed will announce whether they will raise interest rates on Wednesday afternoon. They are expected to hike short term rates by 0.25%, though future hikes are in question following Chairman Powell’s comments last month. President Trump is on record as saying no rate hike is needed from his perspective. The Cotlook A index was up 5 points from the previous day on Dec 17 at 87.80 cents/lb. The weekly USDA AWP was updated to 69.77, good through Thursday.

--provided by Brugler Marketing & Management




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