Cotton Reverting Higher on Thursday AM Trade
Cotton price action is steady to 12 points higher early on Thursday. Futures closed with losses of 50 to 58 points across the front months on Wednesday. Crude oil futures were down $2.56/barrel to $58.48 so far on the day, with the US dollar index $0.084 higher to $99.400.
The Tuesday online auction from The Seam showed 6,583 bales sold with an average price of 63.55 cents/lb. The Cotlook A Index was up 60 points on 11/11 at 75.80 cents. ICE certified cotton stocks were up 3,490 on November 11 with the certified stocks level at 17,239 bales.
Dec 25 Cotton closed at 63.3, down 58 points, currently up 1 point
Mar 26 Cotton closed at 64.81, down 57 points, currently up 10 points
May 26 Cotton closed at 66, down 57 points, currently up 12 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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