EPIC RESEARCH NCDEX COTTON UPDATE OF 23 OCTOBER 2017

Cotton trading range for the day is 18577-18837.Cotton settled flat as recent rains in the cotton growing states may improve production in the country. India's 2017-18 (Jul-Jun) cotton output is pegged at 322.7 lakh bales, down 2.5% from 330.9 lakh bales in 2016-17. USDA lowered U.S. production estimates for the 2017/18 crop year by 643,000 bales to 21.12 million bales. Cotton prices in spot market dropped by 180.00 rupees and settled at 18760.00 rupees.



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