Cotton prices are up 22 to 31 points higher on Friday morning. Future posted losses of 30 to 38 points on Thursday, falling from early gains. Crude oil futures were up 76 cents per barrel at $59.71 on the day, with the US dollar index $0.129 high to $98.930.
Export Sales data for the week ending on October 30 showed just 81,530 RB of upland cotton sold. That was a marketing year low. Shipments in that week were 146,581 RB, which was a 3-week low.
The 12/3 online auction from The Seam showed 10,758 bales sold at an average price of 59.66 cents/lb. The Cotlook A Index was back down 15 points on Tuesday at 74.80 cents. ICE certified cotton stocks were steady on December 3 with the certified stocks level at 19,894 bales. The Adjusted World Price was updated this afternoon to 51.28 cents/lb last week, up 51 points from the previous week.
Dec 25 Cotton closed at 62.28, down 38 points, currently unch
Mar 26 Cotton closed at 64.08, down 38 points, currently up 31 points
May 26 Cotton closed at 65.23, down 37 points, currently up 26 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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