Cotton futures are trading with 25 to 45 point losses so far on Friday. Crude oil futures are down 41 cents per barrel at $57.01. The US dollar index is up $0.058 at $98.105.
On Wednesday afternoon, USDA released the payment details for the Farm Bridge Assistance program, with the cotton payment listed at $117.35/acre.
CFTC released an updated Commitment of Traders report on Wednesday afternoon, showing managed money trimming 4,387 contracts from their net short as of 12/23 to 50,446 contracts.
The Seam’s online auction showed sales of 17,479 bales on December 31 at an average price of 65.40 cents/lb. The Cotlook A Index was back unchanged on Wednesday at 74.30 cents. ICE certified cotton stocks steady on 12/31 with the certified stocks level at 11,510 bales. The Adjusted World Price was updated to 50.76 cents/lb on Friday morning, up 74 points from the week prior. The LDP rate is now 1.24 cents.
Mar 26 Cotton is at 63.82, down 45 points,
May 26 Cotton is at 65.25, down 35 points,
Jul 26 Cotton is at 66.57, down 26 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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