Cotton price action is up 4 to 8 points so far on Tuesday morning. Futures saw 7 to 12 point losses across most contracts on Monday. Crude oil futures were $1 higher per barrel at $59.55 on the day, with the US dollar index $0.058 lower to $99.350.
USDA’s Export Sales report showed 132,760 RB of cotton sold in the week of 10/23, back down 24.43% from the week prior. Shipments were the largest this marketing year at 174,788 RB.
The November 28 online auction from The Seam showed 3,605 bales sold at an average price of 59.75 cents/lb. The Cotlook A Index was unchanged on Friday at 74.95 cents. ICE certified cotton stocks were steady on 11/28 with the certified stocks level at 20,344 bales. The Adjusted World Price was updated to 50.77 cents/lb last week, down 3 points from the previous week.
Dec 25 Cotton closed at 62.83, down 8 points, currently unch
Mar 26 Cotton closed at 64.64, down 7 points, currently up 8 points
May 26 Cotton closed at 65.8, down 12 points, currently up 4 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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