Cotton prices are down 27 to 34 points early on Friday. Futures posted losses of 12 to 104 points across most contracts on Thursday. Crude oil was up $1.95 per barrel on the session, with the US dollar index $0.133 lower.
Cotton Ginnings data from NASS showed 735,950 RB of cotton ginned from October 1 to October 15, taking the marketing year total to 1.653 million RB.
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USDA’s Export Sales report showed 199,629 RB of cotton sales in the week ending in October 15, which was up 35.9% from last week. The lead buyer was Vietnam at 94,500 RB, with 34,200 RB sold to Bangladesh. Shipments were tallied at 195,366 RB, which was back up 39.7% from last week and a 23.01% increase from the same week last year. Vietnam was the top destination of 78,900 RB, with 26,400 RB sold to Pakistan.
The Seam reported 1,930 bales sold on Wednesday, at an average of 73.72 cents/lb. The Cotlook A index was back up by 60 points on October 21 at 91.75. ICE certified cotton stocks up 4,304 bales on 10/21, with the certified stocks level at 22,922 bales. The Adjusted World Price was up another 40 points on Thursday to 65.01 cents/lb.
Dec 26 Cotton closed at 80.79, down 104 points, currently down 32 points
Mar 27 Cotton closed at 84.48, down 72 points, currently down 27 points
May 27 Cotton closed at 86.15, down 69 points, currently down 27 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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