Cotton is trading 13 to 18 points higher ahead of USDA first crop production forecast of the year. Front month cotton futures were up by 69 to 75 points at the closing bell on Tuesday. Stock market futures (S&P) traded at the highest level since February on Tuesday before fading into the close. They are higher this morning. Gold is down another $7-8, although well above the overnight lows. Monday sales on The Seam were 446 bales at an average gross price of 59.77 cents/lb. The Cotlook A index fell back 2 and a half cents on Aug 10, to 68.75 cents/lb. The AWP for cotton is 49.44 cents/lb through Thursday. The week’s LDP is 2.56 cents/lb.
--- provided by Brugler Marketing & Management