Cotton Feeling Outside Pressure on Thursday
Cotton futures are back down 8 to 14 points at Thursday’s midday. Crude oil futures are down $2.97 per barrel at $59.05. The US dollar index was down $0.248 at $98.155.
Export Sales data showed a total of 339,724 RB of upland cotton sold in the week ending on January 8. That was a marketing year high and more than triple the previous week. Shipments were tallied at 156,104 RB in that week, an 11-week high.
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The January 14 online auction from The Seam showed sales of 59.07 cents/lb on 11,177 bales. The Cotlook A Index was up 5 points on 1/14 at 75.05 cents. ICE certified cotton stocks were unchanged on Tuesday with the certified stocks level at 11,029 bales. The Adjusted World Price was updated to 50.97 cents/lb last week, up 21 points from the week prior. It will be updated later today.
Mar 26 Cotton is at 64.85, down 14 points,
May 26 Cotton is at 66.41, down 9 points,
Jul 26 Cotton is at 67.83, down 8 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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