Cotton futures are showing 78 to 107 point losses in most contracts at midday. Upland cotton sales in the week that ended on 12/27 totaled 228,202 RB for 18/19 and 32,208 RB for 19/20. The old crop sales were the second largest only behind the week prior as total sales were down 9.31% from a year ago. A total of 28,434 RB in net sales were reported to China in the export sales report for the week ending 12/27 which was released this morning. US Trade Rep Lighthizer and Trade Sec Mnuchin are expected to head to China next week for another round of trade talks. A report out this morning indicates that President Trump and China’s President Xi not likely to meet prior to the March 1 deadline. The Cotlook A Index was up 40 points on February 6 to 82.65 cents/lb. The USDA Adjusted World Price is 64.61 cents/lb through next Thursday, down 46 points from the previous week.
Mar 19 Cotton is at 72.78, down 88 points,
May 19 Cotton is at 73.88, down 98 points
Jul 19 Cotton is at 75.23, down 99 points
Oct 19 Cotton is at 73.960, down 78 points
--provided by Brugler Marketing & Management