Cotton futures are trading 31 lower to 33 higher this morning. They had 46 to 131 point gains in most contracts on Turnaround Tuesday. The US stock market is lower and the dollar is stronger. IEG Vantage estimates that US cotton producers will plant 14.1 million acres of cotton, 335,000 acres larger than the USDA Intentions survey found at the end of March. The Cotlook A index for May 10 was down 170 points from the previous day to 79.00 cents/lb. The weekly Average World Price (AWP) is now 64.65 cents/lb, down 3.62 cents from last week.
--provided by Brugler Marketing & Management