Cotton Lower on Continued Trade Threats

Cotton futures are down 7 to 73 points in the front months on Wednesday. Pressure is coming from the Trade War front, as it was reported that China backtracked on several of the main points in a draft of their trade agreement last Friday. Tariffs on $200 billion of Chinese goods, threatened by President Trump last weekend, will increase to 25% on Friday. There is limited technical support between here and the double bottom. The weekly Average World Price (AWP) is 68.27 cents/lb, effective through Thursday. The Cotlook A index was down 180 points from the previous day on May 7 at 83.15 cents/lb.

May 19 Cotton is at 72, down 28 points,

Jul 19 Cotton is at 72.45, down 73 points

Oct 19 Cotton is at 72.3, down 7 points

Dec 19 Cotton is at 72.480, down 15 points

--provided by Brugler Marketing & Management




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