Cotton Falling Weaker at Midday
Cotton futures are trading with 75 to 107 point losses across most contracts on Wednesday’s midday. Crude oil prices are down 70 cents/barrel, with the US dollar index back down $0.489 to $98.670.
The next week is looking at precip across much of TX to the East Coast, putting some pressure on futures are midday.
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Tuesday’s auction from The Seam showed 1,957 bales sold at an average price of 62.04 cents/lb. The Cotlook A Index was up another 115 points on 6/3 at 78.60. ICE cotton stocks were steady on June 3, with a certified stocks level of 53,700 bales. USDA’s Adjusted World Price (AWP) was back up 32 points last week at 53.84 cents/lb. It is good through Thursday.
Jul 25 Cotton is at 64.98, down 107 points,
Oct 25 Cotton is at 68.11, up 2 points,
Dec 25 Cotton is at 67.78, down 75 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.
