Cotton Futures Trading Lower

December New York Cotton is trading at 71.02, down 0.69 cents/lb. March New York Cotton is trading at 71.15, down 0.67 cents/lb. Cotton futures are trading lower early Friday morning. Chatter about global economic growth and the supply of U.S. cotton is making the rounds. The USDA reported on Thursday that cotton export sales for the current marketing year are now 46.2 percent of the USDA forecast versus the five year average of 44.7 percent.