Cotton prices are trading with a Friday AM bounce of 14 to 43 points so far. Contracts posted losses of 59 to 64 points across the nearbys at the Thursday close. Crude oil futures were 4 cents/barrel higher on the day, with the US dollar index $0.858 lower. The markets will be closed on Monday for President’s Day, with a normal open for the Tuesday session.
Export Sales data showed a total of 244,673 RB of cotton sold for the week ending on February 6. That took the total commitments for the year to 9.131 million RB, which iw 89% of USDA’s forecast, with the normal pace at 90%. Shipments were tallied at 260,905 RB, which was the largest for the marketing year so far.
The Cotlook A Index was up another 80 points on February 12 at 78.85 cents/lb. The Seam reported 13,562 bales of online sales on Wednesday at an average price of 66.13 cents/lb. ICE cotton stocks were steady again on 2/12 at 218 bales of certified stocks. The USDA raised their Adjusted World Price (AWP) by 81 points at 53.99 cents/lb on Thursday afternoon.
Mar 25 Cotton closed at 66.83, down 64 points, currently up 42 points
May 25 Cotton closed at 67.98, down 59 points, currently up 45 points
Jul 25 Cotton closed at 68.88, down 61 points, currently up 39 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 Barchart
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