Cotton Takes Hit, But Higher Overnight

Cotton traders are fading the triple digit selloff yesterday with overnight gains of 16 to 42 points. Front month cotton futures dropped yesterday by 147 to 201 points. Buying interest was limited ahead of the Chinese New Year holiday week and with little fresh news about Chinese purchases. The Seam online cotton trading platform started off the week with light holiday trading as 592 bales were sold at 57.32 cents/lb. Last week totaled 99,899 bales sold. NASS will release January’s second Cotton Ginning’s report on Thursday at noon E.T. The Cotlook A index was up a full penny on 01/20 to 80.20. The AWP for cotton is 61.40 cents/lb. through Thursday.

---provided by Brugler Marketing & Management

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