Cotton

Cotton futures are 52 to 69 points higher this morning after they posted gains of 54 to 61 points in the nearby contracts on Wednesday. The US dollar was up 297 points on Wednesday but was down again overnight. The weekly Export Sales report is delayed until Friday due to the New Year’s Holiday. The International Cotton Advisory Committee trimmed their expected world cotton ending stocks 0.25 MMT to 18.98 MMT. Most of that reduction came from a 0.31 MMT cut in projected world production. The USDA Adjusted World Price (AWP) was increased 262 points to 70.62 cents/lb on Thursday. The Cotlook A Index for January 2was 25 points lower at 89.35.




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