Cotton futures are mostly 136 to 161 points in the red at midday. Pressure is evident from the continued trade dispute, as President Trump released list of another $200 billion Chinese goods to target for a 10% tariff. Hearings on the list are expected to be in the Aug 20-23 time frame. This comes less than a week after both countries implemented tariffs on $34 billion of each other’s goods, including US cotton. The weekly Export Sales report is back on the schedule for Thursday morning. The Cotlook A index was up 250 points from the previous day on July 9 to 94.60 cents/lb. The weekly USDA AWP is 74.59 cents/lb through Thursday.
Oct 18 Cotton is at 86.14, down 136 points,
Dec 18 Cotton is at 84.79, down 159 points
Mar 19 Cotton is at 84.51, down 151 points
May 19 Cotton is at 84.240, down 161 points