Cotton prices are showing a 90 to 120 point rally at Thursday’s midday. The outside markets are supportive today, with crude oil steady up 86 cents/barrel. The US dollar index is down 730 points to 104.255 at midday, ahead of the Fed rate decision this afternoon in which they are expected to cut rates by 0.25%.

Export Sales data showed 229,039 RB of upland cotton bookings in the week of October 31, which was a marketing year high. Pakistan was the buyer of 72,200 RB, with Vietnam buying 71,800 RB, and 37,500 RB sold to China. Export shipments were 145,832 RB in that week, the third largest total so far this MY. The top destination was Pakistan of 50,400 RB, with 21,100 RB on his way to Vietnam.

ICE cotton stocks were unchanged on Tuesday, leaving 174 bales of certified stocks. The Cotlook A Index was steady again on 11/6 at 82.20 cents/lb. The USDA Adjusted World Price (AWP) was down 74 points to 58.54 cents/lb last week. It will be updated this afternoon.

Mar 25 Cotton  is at 73.19, up 111 points,

May 25 Cotton  is at 74.51, up 98 points,

Jul 25 Cotton  is at 75.69, up 90 points