Cotton prices are up 60 to 87 points on Friday morning. Futures saw mostly higher trade at Thursday’s close, as may was the exception down 3 points, with the rest up 7 to 25 points. Crude oil was up $9.15 to $96.40, with the US dollar index up $0.535 to 99.760.
Export Sales data showed 253,177 RB of cotton sold in the week ending on March 5, back from the week prior and 4.84% above the same week last year. Vietnam was the buyer of 116,300 RB, with 28,200 RB to Bangladesh. Shipments were the largest since last May at 370,131 RB in the first week of March.
January cotton export excluding linters from Census were pegged at 927,984 bales, the lowest since 2016.
The Cotlook A Index was up 55 points on March 11 at 75.75 cents. The Seam showed sales on 1,838 bales on 3/11, averaging 61.44 cents/lb. ICE certified cotton stocks were down 1,936 bales on Wednesday via decertification, with the certified stocks level at 119,517 bales. The Adjusted World Price was back up just 6 points on Thursday to 51.50 cents/lb.
May 26 Cotton closed at 65.14, down 3 points, currently up 87 points
Jul 26 Cotton closed at 67.15, up 7 points, currently up 86 points
Oct 26 Cotton closed at 69.01, up 13 points, currently up 85 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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