Cotton Marginally Higher at Midday
Cotton futures are posting Thursday midday gains of 4 to 9 cents. The outside markets were pressure factors, as crude oil futures are down $0.26/barrel. The US dollar index is up 0.158 on the day.
Export Sales data from USDA showed cotton bookings at 188,909 RB in the week that ended on 1/30, a 4-week low. That was down 32.63% from last week and 33.5% below the same week last year. Turkey was the buyer of 49,700 RB, with44,300 RB for Pakistan. Shipments were tallied at 221,058 RB, back up 44% from last week but down 11.05% from the same week in 2024. Vietnam was the largest destination of 58,900 TB, with 36,400 RB shipped to Pakistan.
The Seam reported 5,660 bales of online sales on February 5 at an average price of 57.54 cents/lb. ICE cotton stocks were unchanged on Wednesday, at 218 bales of certified stocks. The Cotlook A Index was up 100 points on 2/5 at 78.05 cents/lb. The USDA Adjusted World Price (AWP) was back up 31 points last week at 54.02 cents/lb. It will be updated this afternoon.
Mar 25 Cotton is at 66.08, up 4 points,
May 25 Cotton is at 67.27, up 7 points,
Jul 25 Cotton is at 68.43, up 9 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.