Cotton Market 19 to 31 Higher to Begin Week

Cotton futures are 19 to 31 points higher this morning after they finished November’s first day of trading with 16 to 20 point gains. Nearby futures were down 67 points for the week. The US dollar index is firmer this morning, bouncing from 97.00 after a 3-session retreat following the Fed rate cut. The CFTC reported that managed money’s net short in cotton actually grew by 1,469 contracts to 6,098 as of 10/29. Online cash trades from the Seam saw 851 bales sold on Halloween. The Cotlook A Index was up 1 for 10/31 to 76.45 cents/lb. The weekly AWP from 10/31 is 57.33 cents/lb and will be valid through next Thursday.

--provided by Brugler Marketing & Management

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