Cotton price action is mixed on Friday morning, with nearby contracts steady to 5 points higher. Futures saw Thursday gains of 8 points across the front months at the close. Crude oil futures were 8 cents per barrel higher at $56.02. The US dollar index was $0.093 higher to $98.095.Â
Export Sales data showed 135,886 RB of cotton sold during the week of 11/27, a 4-week low. Shipments were a 3-week high at 122,094 RB.Â
Total export sale commitments are 5.72 million RB, which is now 16.53% below the same period last year. Much of that is due to lighter sales with shipments actually up 7.61% during the marketing year at 2.3 million RB.
Thursday’s online auction from The Seam showed sales of 14,934 bales at an average price of 60.84 cents/lb. The Cotlook A Index was down 90 points on 12/17 at 73.00 cents. ICE certified cotton stocks were unchanged on December 17 with the certified stocks level at 12,396 bales. The Adjusted World Price was updated this afternoon to 49.99 cents/lb a 40 point drop from last week.
Mar 26 Cotton  closed at 63.51, up 8 points, currently up 1 points
May 26 Cotton  closed at 64.61, up 8 points, currently up 3 points
Jul 26 Cotton  closed at 65.66, up 8 points, currently up 5 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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