Cotton

Cotton futures are 44 to 51 points higher this morning after they posted modest gains on Tuesday of 5 to 22 points. The US dollar was 147 points higher on Tuesday, but is down more than 400 points this morning. Ahead of the monthly USDA supply and demand report analysts are expecting to see a slight reduction in the world ending stocks number, on lower production. The USDA Cotton Ginnings report will also be released on Friday. The Cotlook A Index for January 8 was 120 points lower than the previous day at 88.70 cents/lb. Online cash sales of 16,550 bales were reported on the Seam on Monday, with an average price of 69.62 cents/lb, up 249 points from the day prior.




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