Cotton Market News and Commentary

Cotton futures are trading 76 to 100 points higher this morning. They posted sharp 164-169 point gains on Friday on bargain hunting after hitting 13-month lows earlier in the week. March was 0.46% higher for the week. US and China met in Beijing on Monday and will again and tomorrow for trade talks. The US dollar is also weaker. The Cotlook A index was down 120 points from the previous day on January 3 at 79.65 cents/lb. IEG Vantage estimates the 2018 US cotton crop at 18.472 million bales, 116,000 bales below USDA’s current estimate. The Crop Production report scheduled for Friday will be delayed due to the government shutdown. That is also the case for the CFTC reports and the weekly AWP calculation.

--provided by Brugler Marketing & Management

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