Cotton Falling on Thursday AM
Cotton prices are slipping lower ahead of the weekly Export Sales release, down 66 to 74 points. Futures ended the Wednesday session with contracts up 6 to 39 points across the board. The dollar index added some pressure, up 459 points. Crude oil futures were up $1.09/barrel.
The Seam reported just 1,240 online cash cotton bale sales on Tuesday, averaging 72.66 cents/lb. ICE cotton stocks were unchanged on October 1, leaving 265 bales of certified stocks. The Cotlook A Index was up 85 points on October 1 at 85.25 cents/lb. The USDA Adjusted World Price (AWP) was raised by 223 points last Thursday to 61.06 cents/lb. It will be updated on Thursday.
Dec 24 Cotton closed at 73.4, up 31 points, currently down 73 points
Mar 25 Cotton closed at 75.38, up 30 points, currently down 70 points
May 25 Cotton closed at 76.61, up 33 points, currently down 71 points
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.