Cotton 12 to 36 Points Lower on Ideas of Limited Damage

Cotton futures are trading 12 to 36 points lower this morning. They saw losses of 56 to 132 points in the nearby contracts on Turnaround Tuesday. Strength in the US dollar along with improved crop ratings on Monday pressured the market lower. After Monday’s close, NASS showed that TX had 12% of their crop setting bolls, 6% behind normal, with GA 8% faster than normal at 45%. MO and TN were the only states with lower conditions, as TX was up 13 points and MS was 16 higher. The Cotlook A index for July 15 was down 40 points from the previous day at 73.65 cents/lb. The weekly AWP is 58.05 cents/lb through Thursday.

--provided by Brugler Marketing & Management




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