Cotton futures posted slightly stronger trade on Thursday, closing with 1 to 11 point gains with now in deliveries October down 21 points. The US dollar index was back up $0.617 on the day to $98.135, with crude oil futures 25 cents higher.
Export Sales data from this morning showed just 86,094 RB of cotton sold in the week of 9/18, a marketing year low. India was the buyer of 27,300 RB, with 22,300 RB sold to Turkey. Shipments were a 3-week high at 137,223 RB. Vietnam was destined for 41,700 RB, with 21,000 RB to India and 20,600 RB to Bangladesh.
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Wednesday’s online auction from The Seam showed 444 sales at an average price of 65.48 cents/lb. The Cotlook A Index was up 30 points to 78.15 cents on September 24. ICE cotton stocks were again steady on 9/24, with the certified stocks level at 15,474 bales. USDA’s Adjusted World Price (AWP) was back down 41 points last week at 54.38 cents/lb.
Oct 25 Cotton closed at 63.83, down 21 points,
Dec 25 Cotton closed at 66.28, up 11 points,
Mar 26 Cotton closed at 68.19, up 8 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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