Cotton Steady to Kick Off Thursday Trade
Cotton price action is holding near unchanged on Thursday morning. Futures were up 10 to 15 points in the front months on Wednesday. The outside markets provided some support, as crude oil was up $1.54 on the day to $76.10. The US dollar index was back down $0.231 at $98.775.
The Seam showed sales of 6,789 bales sold on 3/3, averaging 62.49cents/lb. The Cotlook A Index was back down 95 points on Tuesday at 74.95 cents. ICE certified cotton stocks were unchanged on March 3 with the certified stocks level at 129,302 bales. The Adjusted World Price was raised by 1.79 cents last week to 51.84 cents/lb.
Mar 26 Cotton closed at 62.16, up 12 points, currently unch
May 26 Cotton closed at 64.16, up 12 points, currently down 8 points
Jul 26 Cotton closed at 66.1, up 15 points, currently down 3 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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