Cotton is leaking lower so far on Friday, with losses of 5 to 27 cents at midday. The outside markets are pressure factors at midday. Crude oil futures are down $1.54/barrel, with the US dollar index $0.241 higher.
This morning’s Export Sales report tallied cotton bookings at 312,452 RB in the week of 2/13, a 4-week high. Vietnam was the buyer of 109,400 RB, with Pakistan at 64,800 RB. Export Shipments totaled 298,278 RB, a MY high. Vietnam was also the largest destination of 85,100 RB, with 49,700 RB to Pakistan.
ICE cotton stocks were unchanged on 2/20 at 1,732 bales of certified stocks. The Seam tallied 4,747 bales in February 20 online sales, with an average price of 59.07 cents/lb. The Cotlook A Index was back down 110 points on Thursday at 78.30 cents/lb. The USDA raised their Adjusted World Price (AWP) again on Thursday by 68 points to 54.67 cents/lb.
Mar 25 Cotton is at 65.7, down 27 points,
May 25 Cotton is at 67.42, down 5 points,
Jul 25 Cotton is at 68.4, down 7 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.
More news from Barchart
- Is Cotton Cheap at Below 70 Cents per Pound?
- Is Cotton Going Higher in 2025?
- How Raw Material Prices Can Forecast the Economy's Direction
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
