Cotton futures are trading 10 to 24 points lower this morning after also closing lower on Thursday. All upland cotton 17/18 export sales were tallied at 364,711 RB by the USDA for the week of 2/8. That was down from the previous week as expected but was 64.15% above the same week last year. It didn’t impress the market yesterday, with the focus being getting out of the March contract before deliveries. New crop sales were reported at a MY high of 130,982 RB. Shipments of upland cotton backed off last week’s MY high to 324,682 RB, 5.86% lower than the same time last year. The USDA Adjusted World Price or AWP was trimmed 30 points from the previous week to 69.15 cents/lb on Thursday. The Cotlook A index on February 14 was 87.35 cents/lb, UNCH from the previous day.

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