Cotton Market News and Commentary

Cotton futures are 10 to 16 points lower in early post-holiday trading. They saw losses of 63 to 92 at Monday’s early close. That was despite a weaker US dollar, though crude was down $2.91/barrel. Everybody is pointing at different reasons (global slowdown, 1930’s type economy killing export fight, political mess in Washington) but the bottom line is that buyers and bottom pickers are in no hurry to commit. Chinese cotton futures at Zhengzhou were lower on Wednesday, hurt by a stronger yuan among other things. The Cotlook A index was down 165 points from the previous day on Dec 21 at 83.40 cents/lb. The weekly USDA AWP was updated to 68.35 cents/lb, down 142 points from the previous prior.

--provided by Brugler Marketing & Management

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