Cotton Futures Modestly Higher in Early Friday Trading

Cotton prices are 6 to 30 points higher so far on Friday morning, led by nearby March. Front month cotton futures were down Thursday. Old crop closed 60 to 77 points in the red, while new crop was 34 to 52 points lower. CPI data showed prices in the US rose by 7.2% in January from Jan ’21, but the Dollar Index was 0.21% stronger on the day. 

USDA’s weekly Export Sales data had cotton bookings at 185,218 RBs. That was down 45% wk/wk and 33% from the same week last year. USDA also had 96,113 RBs of new crop cotton sales from the week that ended 2/3. Accumulated cotton commitments are still 7% below last year’s pace at 12.176 MMT. 

USDA’s 2/10 DSQ report mentioned 8,797 bales were transacted, for a MYTD total of 1.353 million. The Cotlook A index for 2/8 was down by 115 points to 139.65 cents/lb. The FSA updated the AWP for cotton to 117.60 c/lb, up from 116.10 c/lb last week. 

Mar 22 Cotton  closed at 125.66, down 77 points, up 32 this morning

May 22 Cotton  closed at 123.2, down 60 points, up 23 this morning

Dec 22 Cotton  closed at 105.27, down 34 points, up 25 this morning