Cotton Market News and Commentary

Cotton futures are trading 4 to 35 points higher this morning. They sustained 79 to 142 point losses on Thursday. A stronger US dollar was seen as pressure. The Cotlook A Index was down 20 points on March 12 to 81.55 cents/lb. The USDA Adjusted World Price (AWP) was updated to 64.10 cents/ lb on Thursday, up 68 points from the week prior. The USDA Export Sales report indicated 166,125 RB of old crop upland cotton sold in the week of 3/7. That was up 45.69% from last week but still 48.31% below that week last year. China purchased 49,269 RB of that total; welcome news after recent cancellations. Export Commitments for 18/19 upland cotton are now 11.8% below a year ago as sales have been lagging. A total of 27,338 bales traded on The Seam on Wednesday, with an average price of 68.09 cents/lb.

--provided by Brugler Marketing & Management

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