Cotton

Cotton futures are mostly 20 to 25 points lower on Tuesday morning. They ended the Monday session with mixed trade, as nearby contracts were 14 to 23 points lower with back months higher. The USDA reported that 354,825 bales of upland cotton was classed during the week of Feb 8. That would bring the total for the 2017/18 crop to 18.243 million bales. The USDA Adjusted World Price or AWP was updated to 69.45 cents/lb Thursday morning. The Cotlook A index on February 9 was 87.40 cents/lb, up 70 points from the previous day. The NCC grower survey released on Saturday anticipates a 3.7% increase in US all cotton acreage in 2018. That survey shows that producers intend to plant 13.078 million acres of cotton in 2018.




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