Cotton futures are posting 3 to 5 point gains at midday, with March down 3 points. Crude oil futures are $1.30 per barrel higher at $57.84. The US dollar index is back down $0.312 at midday to $97.94.
USDA’s Export Sales report indicated a total of 153,266 RB of cotton sold in the week ending on December 4. That was a 3-week high for sales but 10.19% below the same week last year. Shipments were 101,577 RB in that week, which was a marketing year low.
CFTC data showed managed money trimming 4,774 contracts from their net short in the week ending on 12/9 to 55,013 contracts.
The 12/19 online auction from The Seam showed sales of 18,183 bales at an average price of 59.38 cents/lb. The Cotlook A Index was steady on December 19 at 73.30 cents. ICE certified cotton stocks were unchanged on Friday with the certified stocks level at 12,396 bales. The Adjusted World Price was updated on Thursday to 49.99 cents/lb a 40 point drop from last week.
Mar 26 Cotton is at 63.72, down 3 points,
May 26 Cotton is at 64.87, up 3 points,
Jul 26 Cotton is at 65.91, up 5 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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