Cotton Market Commentary

Cotton futures are trading 65 to 69 points lower this morning. They were mostly 35 to 56 points higher on Tuesday. The US dollar is a little stronger, and the stock market futures are a little weaker. The weekly Crop Progress report indicated that 29% of the cotton crop had bolls opening as of Sunday, ahead of the average of 26%. Condition ratings were down 3% to 41% gd/ex, while the Brugler500 Index was down 12 points to 303. The International Cotton Advisory Committee trimmed their 18/19 world cotton carryout estimate by 0.88 MMT to 16.91 MMT. That was mainly due to a smaller 17/18 ending stocks and increased consumption. The Cotlook A index was steady with the previous day at 92.15 cents/lb on September 3. The weekly AWP was updated to 74.26 cents/lb, up 43 points from the previous week and good through Thursday.

Market Commentary provided by:

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