Cotton Posting Midday Losses on Friday
Cotton futures are down 11 to 15 points across the front months on Friday. The US dollar index is down another $0.408 to $97.695, as crude oil futures are down another $0.63
USDA’s Export Sales data as the new crop book at 3.127 million RB, which is 28% of the full year USDA export forecast and behind the 45% average sales pace.
The Seam reported 2,019 bales sold on the Thursday online auction at an average price of 68.32 cents/lb. The Cotlook A Index was back down 55 points at 79.40 cents on August 14. ICE cotton stocks were down 1,225 bales on 8/13 via decertifications, with the certified stocks level at 17,017 bales. USDA’s Adjusted World Price (AWP) was back up 66 points on Thursday at 55.05 cents/lb.
Oct 25 Cotton is at 66.06, down 11 points,
Dec 25 Cotton is at 67.53, down 15 points,
Mar 26 Cotton is at 69.07, down 18 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.