Midday prices have recovered from the overnight lows and weakness at the open, as the board is 5 to 11 points in the black. The US dollar index is sharply higher, extending a rally that began on Wednesday. On average trade is looking for a smaller cotton crop in USDA’s forecast tomorrow. The average of estimates is for a 290k bale reduction to 15.66 million. The online cotton trading platform The Seam reported 13,293 bales sold on Jan 7th. WTD sales through Thursday were 66,378 bales for a wtd average price of 72.37 c/lb. USDA’s weekly Cotton Market Review reported sales were down 1,185 bales to 67,350 on the week ending 01/07. The average spot price for the week’s sales was 75.34 cents/lb. The Cotlook A index dropped another quarter of a cent to 86.30 cents/lb on 01/08. The AWP is 62.25 cents/lb. 

--- provided by Brugler Marketing & Management