Cotton futures are up 67 to 81 points as we trade through Friday’s midday. The outside markets are pressure factors, as the US dollar index was up 313 points, with crude oil $0.42/barrel lower. The markets and government will be closed on Monday due to Martin Luther King Jr Day, with a normal schedule for Tuesday.
Export Sales data showed a total of 316,248 RB of upland cotton sold in the week ending on January 9. Total sales commitments, including shipments are now at 8.068 million RB. That is 78% of the USDA export projection for 24/25 exports, behind the 882% average sales pace.
The Seam reported 4,510 bales of online sales on January 16 at an average price of 57.66 cents/lb. ICE cotton stocks were unchanged on Thursday, at 218 bales of certified stocks. The Cotlook A Index was back up 30 points on 1/16 at 78.15 cents/lb. The USDA Adjusted World Price (AWP) was back down 68 points from the previous week on Thursday afternoon at 53.98 cents/lb.
Mar 25 Cotton is at 67.54, up 81 points,
May 25 Cotton is at 68.55, up 70 points,
Jul 25 Cotton is at 69.55, up 67 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. More news from BarchartThe views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
