Cotton prices are trading with midday gains of 35 to 77 points so far for the week’s last trade day. Stock market futures are still under pressure amid signs of a weakening US economy.
USDA’s weekly Export Sales report had 18,647 RBs of cotton bookings during the week that ended 12/08. That was down 43% from the week prior and was just 6% of the same week last year. New crop saw 28k RBs sold. Accumulated cotton commitments were 8.75m RBs as of 12/08, with 1.2m RBs of new crop on the books.
The Cotlook A Index was 25 points weaker to 99.2 cents in the 12/15 update. The Seam reported 3,058 bales sold for an average gross price of 86.09 cents/lb. The updated AWP for cotton was raised 292 points to 72.25 cents. ICE Certified Stocks were 8,901 bales on 12/12.
Mar 23 Cotton is at 81.6, up 57 points,
May 23 Cotton is at 81.67, up 43 points,
Jul 23 Cotton is at 81.56, up 31 points
On the date of publication, Alan Brugler 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.
/Intel%20Corp_%20logo%20on%20mobile%20phone-by%20Piotr%20Swat%20via%20Shutterstock.jpg)
/An%20image%20of%20a%20Tesla%20humanoid%20robot%20in%20front%20of%20the%20company%20logo%20Around%20the%20World%20Photos%20via%20Shutterstock.jpg)
/Alphabet%20(Google)%20Image%20by%20Markus%20Mainka%20via%20Shutterstock.jpg)
/Nvidia%20logo%20by%20Konstantin%20Savusia%20via%20Shutterstock.jpg)
