Cotton Market Fades Big Wednesday Gains

Cotton futures are 29 to 42 points lower on minor profit taking following triple digit gains on Wednesday, with the buying focused on July and later contracts. The US dollar index is lower this morning following the Fed interest rate cut on Wednesday. Online cash trades this week on the Seam were 8,078 bales as of 10/29, riding off of a 6,932 increase from Monday. USDA will release weekly export sales data shortly, with keen interest in any Chinese purchases. The Cotlook A Index for 10/29 has stayed at 75.50 cents/lb. The AWP from 10/24 is 57.11 cents/lb and will be updated later today.

--provided by Brugler Marketing & Management




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