Cotton Market Commentary

Cotton futures are trading 4 to 71 points lower this Turnaround Tuesday morning, with thin October the only contract close to UNCH. They were mostly 167 to 186 points higher on Monday due to concerns about storm damage from Hurricane Florence. Forecasts for Florence are calling for the hurricane to hit NC Thursday night or early Friday morning as a Cat 3 or 4 hurricane. USDA shows 6.79% of the total estimated 2018 harvested cotton acres are in the Carolinas. Virginia will also be impacted. USDA is delaying the release of the weekly Crop Progress report until noon EDT today due to technical issues. The Cotlook A index was down 55 points from the previous day at 91.00 cents/lb on September 7. The USDA weekly AWP was updated to 73.77 cents/lb, down 49 points from the previous week.




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