Cotton futures are 38 to 51 points lower this morning. They saw most contracts hovering close to steady on Tuesday, with the nearby contracts slightly lower and back months slightly higher. The National Cotton Council estimates that the US 17/18 export number will reach 15 million bales. That is 500,000 bales more than the USDA has projected after lowering its estimate last week. The USDA Adjusted World Price or AWP was updated to 69.45 cents/lb Thursday morning. The Cotlook A index on February 12 was 87.55 cents/lb, up 15 points from the previous day. Cash sales reported on the Seam were shown at 9,558 bales, with the average price down 200 points from the previous day at 69.01 cents/lb.

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