Cotton futures are showing some strength so far on Wednesday with gains of 40 to 50 points so far. The outside markets continue to be mixed factors with pressure coming from crude oil futures were, down $2.30/barrel. The US dollar index is falling another $1.278 on the day.
The Monday online auction from The Seam showed 2,288 bales sold, with an average price of 58.25 cents/lb. The Cotlook A Index was back up 25 points on 3/4 at 76.25 cents/lb. ICE cotton stocks were up another 1,118 bales on Tuesday with the current level of certified stocks at 13,771 bales. The USDA cut back their Adjusted World Price (AWP) on Thursday afternoon by 78 points to 53.89 cents/lb. It will be updated later tomorrow.
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Mar 25 Cotton is at 61.62, down 42 points,
May 25 Cotton is at 63.73, up 49 points,
Jul 25 Cotton is at 64.95, up 43 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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