Cotton Higher Ahead of Export Sales Release
Cotton price action is showing 19 to 27 point gains so far on Thursday morning. Futures posted losses of 76 to 90 points on the Wednesday session. The outside markets were mixed factors, as crude oil futures were down $1.50/barrel. The US dollar index was down 0.363 on the day.
December cotton exports totaled 843,230 bales according to Census data. That was down 23.91% from last year but up 28.02% from November.
The Seam reported 8,781 bales of online sales on February 4 at an average price of 59.39 cents/lb. ICE cotton stocks were unchanged on Tuesday, at 218 bales of certified stocks. The Cotlook A Index was back up 25 points on 2/4 at 77.05 cents/lb. The USDA Adjusted World Price (AWP) was back up 31 points last week at 54.02 cents/lb. It will be updated on Thursday afternoon.
Mar 25 Cotton closed at 66.04, down 90 points, currently up 27 points
May 25 Cotton closed at 67.2, down 85 points, currently up 19 points
Jul 25 Cotton closed at 68.34, down 76 points, currently up 23 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.