NY Cotton Lower

NY May Cotton prices are trading a little lower Monday. May NY Cotton is trading at 62.58, down 0.39. Continued chatter about lower U.S. supply down the road has been supportive. Generally large world supplies has kept sellers active on rallies and has given cotton millers little reason to move into a buying mode. The USDA monthly crop report is due out on Tuesday. Cotton traders will get a chance to see updated Supply and Demand data from the USDA. Some market talk is that higher export demand of about 10.70 million bales versus 10 million in January is expected. Other chatter is that recently soft export data is unchanged from previous estimates.