By admin       2016-09-27

Cotton futures were little changed on Monday, as other commodities markets gained amid a weaker dollar. Prices initially rose due to reports of hail damage in West Texas, but gave back most of the gains after information that crop damage was isolated, according to Rogers Varner, president of Varner Brokerage in Cleveland, Mississippi.The weaker US dollar was also a factor, said Louis Rose, an independent cotton trader and consultant with Risk Analytics in Memphis. The US Department of Agriculture's weekly crop progress report released on Monday after market close showed that 48 percent of cotton crops in the United States were in good-to-excellent condition, unchanged from a week ago.The December cotton contract on ICE Futures US settled up 0.01 cent, or 0.01 percent, at 70.08 cents per lb. It traded within a range of 69.68 and 71 cents a lb. The dollar index was down 0.20 percent. The Thomson Reuters CoreCommodity CRB Index, which tracks 19 commodities, was up 1.03 percent.

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