Cotton Market Rebounds 27 to 41 Points Overnight

Front month cotton futures are attempting a Turnaround Tuesday rally, up 27 to 41 points overnight. Most contracts were down 26 to 71 points on Monday, although March futures came back from midday lows and closed with an 11 point gain. China has officially extended the Chinese New Year holiday shut downs into mid-February and is limiting travel. Some schools will be closed until at least February 17. All of this is expected to hit GDP growth and consumption of consumer goods. The online cotton trading platform The Seam sold 29,749 bales last week, as Friday trades added 3,017 bales at an avg gross price of 60.39 cents/lb. The Cotlook A index was back down 115 points and was 79.05 cents/lb for 01/24. The AWP for cotton is 61.29 cents/lb.

---provided by Brugler Marketing & Management

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