Cotton Market News and Commentary

Cotton futures are trading 21 to 35 points lower this morning. They were down another 91 to 165 points on Thursday after a disappointing export sales report. The US dollar is sharply higher this morning despite the impending government shutdown and stock market meltdown. The weekly Export sales report showed US exporters of upland cotton booking 142,349 RB in the week of 12/13. That was much better than the previous week but still 57.4% below the same week last year. China still wasn’t buying, with a net reduction of 2,036 RB. The Cotlook A index was down 75 points from the previous day on Dec 19 at 86.05 cents/lb. The weekly USDA AWP was updated to 68.35 cents/lb, down 142 points from the week prior.

--provided by Brugler Marketing & Management

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