Cotton Pulling Back at the End of the Week
Cotton futures are trading mostly lower on Friday, with contracts down 45 to 50 points at midday. October is an exception, up 2 points on thin trade. Crude oil futures are 53 cents/barrel lower. The US dollar index was higher, up $0.401 to $97.525.
As we near the end of the marketing year, total Export Sales commitments are 11.768 million RB, which is 107% of USDA’s expected number and behind the average 116% pace. Actual shipments have totaled 10.778 million RB, which is 98% of that number and beating the 95% average pace.
The Seam showed sales of 801 bales on Thursday, with an average price of 62.77 cents/lb. The Cotlook A Index was unchanged at 78.70 cents on July 24. ICE cotton stocks were down 18 bales on decertification on 7/24, with the certified stocks level at 21,617 bales. USDA’s Adjusted World Price (AWP) was up 23 points on Thursday at 54.95 cents/lb.
Oct 25 Cotton is at 67.36, up 2 points,
Dec 25 Cotton is at 68.25, down 46 points,
Mar 26 Cotton is at 69.67, down 46 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.