Cotton futures closed with 210 to 227 point losses across most contracts on Tuesday. The outside markets were mixed factors. Crude oil futures were down 33 cents/barrel, with the US dollar index falling $1.159 on the day.
In response to President Trump’s additional 10% tariff on Chinese goods, China has issued a 15% tariff on imports of US cotton. For reference, there are 250,100 RB in unshipped sales to China.
The Monday online auction from The Seam showed 1,769 bales sold, with an average price of 62.64 cents/lb. The Cotlook A Index was down another 125 points on 3/3 at 76.00 cents/lb. ICE cotton stocks were steady again on Monday with the current level of certified stocks at 12,653 bales. The USDA cut back their Adjusted World Price (AWP) on Thursday afternoon by 78 points to 53.89 cents/lb.
Mar 25 Cotton closed at 62.04, down 210 points,
May 25 Cotton closed at 63.24, down 227 points,
Jul 25 Cotton closed at 64.52, down 210 points
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