Overnight action has cotton futures 11 to 34 points lower. The US dollar index is the highest since December 9, a headwind for exports. Old crop cotton prices fell back 45 to 61 points on the first trade day of the new month. New crop futures ended the session mixed with an 11 point drop for the thin October contract and a 25 point gain for December. The monthly Cotton System Consumption and Stocks report showed 1,253RBs were used in December. That was down from 1,379 in November on one less day, and down 4.4% from December 2019. Stocks grew 1,675 RBs to 3,955. That was nearly double Dec 2019, and was a 50 month high! The daily Cotton Spot Quotations report showed 5,249 bales were sold on Monday for an average price of 76.10 cents/lb. The Cotlook A index dropped another 95 points on 1/29 to 86.60 cents/lb. USDA’s AWP for cotton is 67.59 cents/lb through Thursday.

--- provided by Brugler Marketing & Management