Cotton Lower

Cotton futures followed the Wednesday triple digit losses with 32 to 46 points losses overnight. Wednesday cotton trading pushed futures 140 to 186 points lower. For Dec futures that was the largest move since a 2.49 cent drop on 8/07. USDA’s Spot Cotton Quotations report showed 3,045 bales sold at an average price of 65.42 cents/lb on 10/28. The week’s sales on The Seam were 5,031 bales at a wtd average price of 67.67 cents/lb through Tuesday. The Cotlook A index for the 27th was 95 points higher at 78.35 cents/lb. The AWP for cotton is 55.71 cents/lb, good through tomorrow.

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