Cotton Posting Modest Midday Gains on Thursday
Cotton futures are trading with contracts 15 to 18 points higher at midday. Crude oil is up $3.01 per barrel on the session, with the US dollar index $0.102 higher.
USDA’s Export Sales report showed 165,070 RB of cotton sales in the week ending in October 1, which was down 18.51% from last week. Sales for 2027/28 were 56,058 RB. Shipments were tallied at 161,588 RB, which was back up from last week and a 2.45% increase from the same week last year.
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The Seam reported sales on 1,421 bales on Wednesday at an average of 75.75 cents/lb. The Cotlook A index was up another 25 points on 10/7 at 91.70. ICE certified cotton stocks were unchanged on October 7, with the certified stocks level at 17,756 bales. The Adjusted World Price was down 93 points last week to 65.16 cents/lb. It will be updated later today.
Oct 26 Cotton is at 76.3, down 118 points,
Dec 26 Cotton is at 80.19, up 16 points,
Mar 27 Cotton is at 83.3, up 18 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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