Cotton price action is down 24 to 48 points on Wednesday morning. Futures closed the session with contracts 28 to 40 points in the red. The US dollar index was $0.375 lower at $99.480. Crude oil is down $19.46 so far this morning following a 2-week ceasefire between Iran and the US that includes the reopening of the Strait of Hormuz. Traffic was limited overnight.
The Seam showed 5,473 bales sold on Thursday at an average of 68.66 cents/lb. The Cotlook A Index was back up 75 points on 4/2 at 81.50 cents. ICE certified cotton stocks were up 14,972 bales on new certifications on April 6, with the certified stocks level at 128,213 bales. The Adjusted World Price was raised by 252 points last Thursday to 56.99 cents/lb.
May 26 Cotton closed at 71.31, down 36 points, currently down 24 points
Jul 26 Cotton closed at 73.54, down 30 points, currently down 36 points
Dec 26 Cotton closed at 75.47, down 28 points, currently down 48 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.
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