Cotton Leaking on Friday Morning
Cotton price action is down 10 to 65 points across most contracts on Friday morning. Futures were down 21 to 88 points across most contracts on Wednesday. WTI crude oil is down $2.30/barrel this morning to $73.34/barrel. The US dollar index is down $0.223 to $98.245.
The Seam reported 1,610 bales sold in Wednesday’s online sale at an average price of 66.13 cents/lb. The Cotlook A Index was back down 45 points on 6/17 at 78.30. ICE cotton stocks up 120 bales via new certifications on June 17, with a certified stocks level of 62,332 bales. USDA’s Adjusted World Price (AWP) was back up 26 points last Thursday at 54.02 cents/lb.
Jul 25 Cotton closed at 64.84, down 21 points, currently down 59 points
Oct 25 Cotton closed at 66.11, down 2 points, currently down 21 points
Dec 25 Cotton closed at 66.67, down 88 points, currently down 10 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.