Cotton Falling Lower on Friday
Cotton futures are trading at Friday’s midday, with losses of 55 points in the front months, as thinly traded October is up 8 points. Crude oil prices are back up $0.84/barrel. The US dollar index is back up $0.261 to $100.995.
After USDA’s Export Sales report on Thursday, commitments of shipped and unshipped sales are now 11.155 million RB. That is 108% of the USDA export projection and matches the 5-year average sales pace. Export shipments are 8.471 million RB, which is 82% of that projection and well ahead of the 75% average.
The Cotlook A Index was down 75 points on Wednesday at 77.25. ICE cotton stocks were up 1,053 bales on new certifications on May 15, with a certified stocks level of 34,153 bales. USDA’s Adjusted World Price (AWP) was back down 91 points on Thursday to 53.90 cents/lb.
Jul 25 Cotton is at 64.88, down 55 points,
Oct 25 Cotton is at 68.35, up 8 points,
Dec 25 Cotton is at 67.63, down 55 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.