Cotton Market Commentary

Cotton futures are 77 to 105 points higher after they closed the Tuesday session with 99 to 144 point losses in the front months. The US dollar is sharply lower following the US election results, while the stock markets are higher. Monday afternoon’s Crop Progress report had harvest progress in TX moving 2% to 38% vs. the 40% average, with GA 53% harvested (54% avg). Texas condition ratings were down 10 to 253, with GA losing another 6 points to 244. The Cotlook A index was down 25 points from the previous day at 88.35 cents/lb on November 5. The USDA weekly AWP is 68.56 cents/lb through Thursday.

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