Cotton Market Commentary
cmdty Insider - BRUG - Wed Oct 10, 7:29AM CDT

Cotton futures are trading 2 lower to 22 higher this morning, with December the weak link. They closed the Tuesday session with most contracts down 30 to 54 points. The Tuesday edition of the weekly Crop Progress report showed that the US cotton crop had 78% of the bolls open (74% avg) and 25% harvested (18% avg). Condition ratings were seen steady at 42% gd/ex, with the Brugler500 @ 321. Georgia is in the path of Hurricane Michael (now a major Cat 4 hurricane!) and had 88% of their bolls open, with only 12% harvested. Traders are looking for USDA to show production down slightly from the September estimate, due to storm damage. Cotlook A index was up 5 points from the previous day at 85.40 cents/lb on October 8. The USDA weekly AWP was updated to 67.87 cents/lb, down 207 points from the previous week.

--provided by Brugler Marketing & Management




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