Cotton Market News and Commentary

Cotton futures posted 105 to 136 point losses in most contracts on Wednesday. The front month continuous contract hit the lowest price in more than 13 months. The US dollar was sharply higher on the day, pressuring the market lower with a lack of export data to be supportive. The Cotlook A index was 25 points from the previous day on Dec 31 at 80.80 cents/lb. The ICAC continues to expect that Chinese cotton inventory will be at the lowest level since 2011/12 by the end of the marketing year (7.66 MMT). They lowered the midpoint of their average world price to 86.45 cents from 89 cents previously.

Mar 19 Cotton closed at 70.840, down 136 points,

May 19 Cotton closed at 72.250, down 125 points

Jul 19 Cotton closed at 73.580, down 105 points

--provided by Brugler Marketing & Management

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