Cotton Extending Losses to Thursday
Cotton futures are trading with contracts 34 to 123 points lower across most contracts on Thursday. Crude oil is back up $166 per barrel on the session, with the US dollar index shooting $0.714 higher.
USDA’s Export Sales report showed 202,567 RB of cotton sales in the week ending in September 24, which was down 12.18% from las week’s marketing year high. Sales for 2027/28 were 39,160 RB. Shipments were tallied at 149,507 RB, which was back down from last week but a 27.14% increase from the same week last year.
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The Cotlook A index was down 390 points on Wednesday at 89.45. ICE certified cotton stocks were down 47 bales on September 30, with the certified stocks level at 28,017 bales. The Adjusted World Price was down 283 points last week to 66.09 cents/lb. It will be updated later today.
Oct 26 Cotton is at 74.79, down 34 points,
Dec 26 Cotton is at 77.31, down 121 points,
Mar 27 Cotton is at 80.15, down 123 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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