Cotton price action is down 50 to 54 points early on election day. Futures climbed back closer to unchanged at the close, but were still down 10 to 17 points at the close. Crude oil fell $7.86 per barrel on the session, with the US dollar index $0.075 lower.
USDA’s weekly Crop Progress report showed 92% of the US cotton crop with bolls open, behind the 95% 5-year average pace. Harvest was at 63%, well above the 65% average pace.
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The Seam reported just 219 bales sold on October 30, at an average of 68.67 cents/lb. The Cotlook A index was up 35 points on 10/30 at 90.20. ICE certified cotton stocks were down 613 on Friday, with the certified stocks level at 26,978 bales. The Adjusted World Price was down 50 points on Thursday to 64.51 cents/lb.
Dec 26 Cotton closed at 77.66, down 17 points, currently down 50 points
Mar 27 Cotton closed at 81.49, down 10 points, currently down 52 points
May 27 Cotton closed at 83.13, down 10 points, currently down 54 points
On the date of publication, Austin Schroeder did not directly have a position 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.