Cotton Falls Lower on Friday
Cotton futures posted losses of 12 to 92 point losses on Friday, with March falling 123 points on the week. The outside factors should be supportive but were not, as the US dollar index was down 469 points, with crude oil $0.94/barrel higher.
USDA reported 128,866 RB of cotton sold in the week that ended on 12/26, a 12-week low for 2024/25 bookings. Turkey was the buyer of 41,300 RB, with 30,000 RB sold to Pakistan. Shipments were tallied at 115,813 RB, the lowest in 7 weeks. Vietnam was the destined for 33,800 RB, with 25,300 RB to Pakistan.
The Seam reported 10,249 bales of online sales on January 2 at an average price of 60.01 cents/lb. ICE cotton stocks were unchanged on Thursday, at 20,113 bales of certified stocks. The Cotlook A Index was steady on 1/2 at 78.90 cents/lb. The USDA Adjusted World Price (AWP) was released late on Thursday, up 48 points from the previous week at 55.03 cents/lb.
Mar 25 Cotton closed at 67.66, down 91 points,
May 25 Cotton closed at 68.81, down 92 points,
Jul 25 Cotton closed at 69.89, down 86 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. More news from Barchart