Cotton futures are trading with contracts 70 to 86 points in most front months on Friday. The US dollar index is up $0.618 at $100.00. Crude oil losses of $3.01 continue to add pressure.
USDA’s Export Sales data has 11.33 million RB of cotton export business, down just 1% from the same week last year. That is 101% of the USDA export projection and 8 percentage points behind normal. Shipments are 79% of that estimate at 8.883 million RB, near the 80% average pace.
The Seam reported sales on 475 bales on June 4 at an average of 70.29 cents/lb. The Cotlook A Index was unchanged on Thursday at 87.50 cents. ICE certified cotton stocks were down 4,592 on 6/4 with the certified stocks level at 250,429 bales. The Adjusted World Price was down another 29 points on Thursday at 63.20 cents/lb.
Jul 26 Cotton is at 74.03, down 86 points,
Dec 26 Cotton is at 77.75, down 74 points,
Mar 27 Cotton is at 79.02, down 79 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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