Cotton Market Up 80 to 100 Points on Weak Dollar

Cotton futures are 80 to 100 points higher this morning as the rally that began in April continues. The dollar is the weakest since September 21st, and stock market futures are higher. USDA will update crop production and demand estimates at 11 AM CDT. Cotton settled 5 to 10 points lower on Thursday. Cotton export sales from USDA’s weekly update were even with the same week last year at 178,427 RBs. Sales reported on The Seam for Wednesday were 8,848 bales at an av gross price of 60.23 cents/lb. The Cotlook A index for 10/07 was another 75 points higher to 72.30 cents/lb. The Adjusted World Price for cotton was raised 81 points by USDA to 51.48 cents/lb. That set the LDP down to 0.52 cents for the week.

--- provided by Brugler Marketing & Management

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