Cotton Market Bounces After Setting Contract Lows
BRUG - Wed Jul 10, 7:28AM CDT

Cotton futures are trading 23 to 61 points higher in a dead cat bounce after posting new life of contract lows on Tuesday. They were down 162 to 240 points on Tuesday. NASS showed 47% of the US cotton crop was squaring as of Sunday (54% avg), with 13% setting bolls (16% avg). In TX, the crop was 37% squared, with 1% setting bolls (13% avg). Condition ratings improved 2% to 54% gd/ex, with the Brugler500 index showing ratings up 4 points to 340. By state, TX saw a 7 point jump to 325, with VA (+9) and LA (+8) also seeing notable improvements. The Cotlook A index for July 8 was down 50 points from the previous day at 77.85 cents/lb. The USDA AWP is 59.32 cents/lb through Thursday.

--provided by Brugler Marketing & Management




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