Cotton Market News and Commentary

Cotton futures are trading anywhere from 7 lower to 1 higher this morning. They posted losses of 92 to 115 points in the front months on Thursday. The US dollar index was stronger for the 6th day in a row, up 734 points. It is seeing some pre-weekend profit taking this morning. sales of upland cotton in the week of Feb 28 totaled 114,028 RB for old crop, with new crop at 25,692 RB. That was well below a year ago but sales were 43.16% larger wk/wk. Total export commitments for upland cotton are now lagging a year ago by 11%. The Cotlook A Index was up 150 points on March 6 to 82.65 cents/lb. The USDA Adjusted World Price (AWP) was updated to 63.42 cents/ lb on Thursday, up 75 points. The now up to date Cotton On-Call report showed mills with a unfixed call sales position of 21,811 contracts on March 1, with unfixed call purchases at 15,078 contracts.

--provided by Brugler Marketing & Management

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