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Cotton Prices Higher as Hurricane Hits US -- Market Talk

28 Aug 2017 2:09 am

0209 GMT - Cotton prices are trading slightly higher following Hurricane Harvey hitting the U.S. Even so cotton has "all but lost it's [Hurricane]Harvey premium" as the weather models suggest the storm will either remain in Texas or peter out as it moves north-eastward, says Tobin Gorey, an analyst at Commonwealth Bank of Australia; "Harvey is not headed for much larger, and still maturing, cotton crops in the Mississippi Delta and the U.S. south‑east anymore." He adds that the hurricane did cause some damage but this was largely to already picked cotton that was ready for ginning. ICE cotton no.2 is trading up 1.1% at 69.34 cents a pound. (lucy.craymer@wsj.com;Twitter: @lucy_craymer)
 

(END) Dow Jones Newswires

August 27, 2017 22:09 ET (02:09 GMT)

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