Turnaround Tuesday for Cotton

Front month cotton futures are buying back some of yesterday’s losses with futures up 53 to 69 points so far. Some factories have been closed in an attempt to stop the Wuhan virus contamination. All of this is expected to hit GDP growth and consumption of consumer goods. With the FOMC meetings today and Wednesday traders are watching for spillover impacts. 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 another 50 points lower on 01/27, to 78.55 cents/lb for 01/24. The AWP for cotton is 61.29 cents/lb, good through Thursday.

Mar 20 Cotton is at 70.04, up 53 points,

May 20 Cotton is at 70.63, up 69 points

Jul 20 Cotton is at 71.37, up 69 points

Oct 20 Cotton is at 69.68, unch

---provided by Brugler Marketing & Management

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