Cotton futures are showing gains of 63 to 106 points at Friday’s midday. Crude oil futures are back up $0.70/barrel to provide some support, with the US dollar index down $0.120 so far on the day.
Total export sale commitments for US cotton are now at 10.124 million RB, which is down 5% from last year. That is 98% of USDA’s export projection and ahead of the 1% average sale pace for the current week.
Commodity Bulletin: From crude oil to coffee, this FREE newsletter is for industry pros and rookies alike
Thursday’s online auction from The Seam showed 5,722 bales sold at an average price of 66.35 cents/lb. The Cotlook A Index was back up 100 points on 3/13 at 78.85 cents/lb. ICE cotton stocks were steady again on Marcg 13, with the current level of certified stocks at 14,488 bales. The USDA increased this week’s Adjusted World Price (AWP) by 188 points on Thursday afternoon to 53.76 cents/lb.
May 25 Cotton is at 67.57, up 104 points,
Jul 25 Cotton is at 68.76, up 106 points,
Oct 25 Cotton is at 70.2, up 63 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
