Cotton Market News and Commentary

Cotton futures are trading 55 to 75 points lower this morning. They ended Wednesday with most contracts up 74 to 95 cents, helped out by short covering after sharp losses the past several sessions. Crude oil was up more than 8%, with the US dollar also higher. The Dow had its largest single day rally (in points, not %) ever. The dollar is weaker this morning, but the stock market also gave up a big chunk of yesterday’s gain in overnight trading. Both the CFTC Commitment of Traders and Cotton-On-Call reports will not be released during the current government shutdown. The Cotlook A index was down 175 points from the previous day on Dec 24 at 81.65 cents/lb. The weekly USDA AWP of 68.35 cents/lb is scheduled for an update today, if the partial government shutdown permits it.

-provided by Brugler Marketing & Management

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