Cotton prices are fading the week’s strength through Friday’s midday. The board is back down by 57 to 104 points, led by March. That has the March contract back to a net loss for the week, with a Friday to Friday loss of 27 points through midday.
Cotton export bookings from the week that ended 1/19 were 213,680 RBs according to FAS data. That was a weekly 2% increase but was still ~half of the same week last year. China was the top buyer with 59k RBs leaving their net commitments at 1.877m RBs of the 9.282 million total. Commitments trail last year by 21%.
The Cotlook A Index was 101.65 cents/lb after another 50 point boost on 1/26. The Seam had 4,753 bales sold on 1/25 for an average gross price of 81.8 cents. The USDA average world price (AWP) for cotton was raised 262 points this afternoon to 75.05 cents per pound. It will be in effect until next Thursday. ICE Certified Stocks were 8,900 bales as of 1/18.
Mar 23 Cotton is at 86.53, down 97 points,
May 23 Cotton is at 87.1, down 92 points,
Jul 23 Cotton is at 87.45, down 89 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. For more information please view the Barchart Disclosure Policy here.
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