Cotton Closes Lower on Friday
Cotton futures closed the Friday session with weakness, as contracts were down 11 to 26 points, with March slipping 48 points over the short week. Crude oil futures were down 9 cents per barrel at $57.41. The US dollar index was up $0.123 at $98.170.
On Wednesday afternoon, USDA released the payment details for the Farm Bridge Assistance program, with the cotton payment listed at $117.35/acre.
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The Seam’s online auction showed sales of 17,479 bales on December 31 at an average price of 65.40 cents/lb. The Cotlook A Index was back unchanged on Wednesday at 74.30 cents. ICE certified cotton stocks steady on 12/31 with the certified stocks level at 11,510 bales. The Adjusted World Price was updated to 50.76 cents/lb on Friday morning, up 74 points from the week prior. The LDP rate is now 1.24 cents.
Mar 26 Cotton closed at 64.01, down 26 points,
May 26 Cotton closed at 65.37, down 23 points,
Jul 26 Cotton closed at 66.72, down 11 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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