Cotton Falling Back on Thursday Morning
Cotton prices are back down 16 to 20 points on Thursday. Futures settled the Wednesday session with contracts ticking 5 to 11 points higher. Crude oil futures were down 10 cents per barrel at $61.05. The US dollar index was down $0.044 at $98.865.
The January 13 online auction from The Seam showed sales of 60.08 cents/lb on 14,042 bales. The Cotlook A Index was up 55 points on 1/13 at 75 cents. ICE certified cotton stocks were unchanged on Tuesday with the certified stocks level at 11,029 bales. The Adjusted World Price was updated to 50.97 cents/lb on Thursday afternoon, up 21 points from the week prior.
Mar 26 Cotton closed at 64.99, up 11 points, currently down 19 points
May 26 Cotton closed at 66.5, up 9 points, currently down 18 points
Jul 26 Cotton closed at 67.91, up 5 points, currently down 16 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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