Cotton Futures Mixed

December New York Cotton is trading at 72.46, up 0.33 cents/lb. March New York Cotton is trading at 71.59, down 0.10 cents/lb. Cotton futures are trading rangebound early Thursday morning. Market chatter about global economic growth, China's cotton production and prices of overseas cotton has kept buyers and sellers active in recent sessions. The International Cotton Advisory Committee reduced their estimate for world ending cotton stocks to 17.78 million tonnes versus 18.10 million tonnes a month ago and 19.14 million tonnes a year ago. The group adjusted cotton production down to 22.4 million tonnes, cotton usage is at 23.75 million tonnes. The USDA weekly export report for cotton is due out at 8:30 a.m. ET.