Front month cotton futures closed the Thursday session with gains of as much as 2.84 cents. March was at a limit gain earlier in the session. March futures sit at a net 317 point gain for the week’s trade.
The weekly Export Sales data showed 116,429 RBs of cotton was sold during the week that ended 11/30. That was 47% lighter than the volume last week, as China led the purchases with 59k RBs. Cotton commitments were listed at 7.918m RBs compared to 8.73 million last year.
The Census confirmed cotton exports were 390,390 bales for October. That was a 41% drop from the Sep shipment and was 30% lighter than Oct ’22. The season’s sum reached 2.08m bales through the first three months, compared to 2.54m bales during last year.
The Seam recorded another 7,605 bales sold on 12/06 for an average price of 4.26 cents/lb. The Cotlook A Index backed off by 50 points back to 89.80 cents/lb. The AWP for the week was lowered by 55 points to 63.63 cents/lb. ICE stocks were shown at 6,186 bales for 12/5.
Mar 24 Cotton closed at 82.59, up 284 points,
May 24 Cotton closed at 83.07, up 262 points,
Jul 24 Cotton closed at 83.29, up 236 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.
/Lululemon%20Athletica%20inc_%20phone%20and%20website%20by-%20T_Schneider%20via%20Shutterstock.jpg)
/Tesla%20dealership%20with%20cars%20in%20lot%20by%20Jetcityimage%20via%20iStock.jpg)
/Nvidia%20logo%20and%20sign%20on%20headquarters%20by%20Michael%20Vi%20via%20Shutterstock.jpg)
