Cotton Closes Lower on Wednesday

Cotton futures were down 62 to 97 points in most contracts on the day. As expected, the Fed cut interest rates by 0.25% following their two-day meeting. The dollar rallied 320 points after the announcement in “sell the rumor, buy the fact” action. Crude oil was down another 1.9% on Wednesday, after the Saudis indicated that they would fill in missing crude oil production from reserves. The Cotlook A Index was up 5 points on September 17 at 73.70 cents/lb. The weekly AWP is 52.28, effective through Thursday.

OCT 19 Cotton closed at 59.5, down 62 points,

DEC 19 Cotton closed at 60.41, down 97 points

MAR 20 Cotton closed at 61.17, down 69 points

MAY 20 Cotton closed at 62.23, down 68 points

-- provided by Brugler Marketing & Management




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