Cotton Market News and Commentary

Cotton futures are trading 12 to 25 points higher in the early going this morning. They posted 62 to 114 point losses in the nearby contracts on Wednesday. The Fed announced a 0.25% interest rate hike on Wednesday afternoon as most had expected. They also announced potential for 2 more hikes during 2019, down from 3 previously. USDA will release the weekly Export Sales report at it’s normal 7:30 AM CST release time this morning. Next week will be delayed until Friday due to the holiday. The bulls badly need to see some big new sales to China, but there has been nothing in the daily announcements this week. The Cotlook A index was down 100 points from the previous day on Dec 18 at 86.80 cents/lb. The weekly USDA AWP was updated to 69.77, good through Thursday.

--provided by Brugler Marketing & Management

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