Cotton prices are 14 to 34 points lower in the opening Wednesday rounds. The dollar weakened overnight, but has firmed to plus territory this morning. At the closing bell on Tuesday, cotton futures were 45 to 67 points in the black. Prices were up triple digits at the day’s highs. USDA’s classing data as of Friday the 15th showed 338,578 upland cotton bales were classed on the week. That was 6.4% below the same week last year and 51.3% of eligible. MYTD all cotton classings hit 13.38m bales as 405,410 pima bales have been classed. That compares to 17.78m upland and 18.28m total bales at this point last year. USDA’s Daily Spot Quotations reported 12,073 bales sold on 1/19, for an average price of 77.01 cents. The Cotlook A index dropped another half a penny to 87.10 for 1/18. The week’s AWP for cotton is 66.23 cents/lb.
--- provided by Brugler Marketing & Management
