Cotton futures closed with Thursday gains of 27 to 37 points as traders position themselves ahead of the Friday reports. The outside factors were mixed, as the US dollar index was up 84 points, with crude oil $0.97/barrel higher.
The weekly Export Sales report is delayed until Friday as the government offices were closed today for a National Day of Mourning for President Carter’s funeral.
The Seam reported 9,804 bales of online sales on January 7 at an average price of 61.64 cents/lb. ICE cotton stocks were unchanged on Wednesday, at 20,113 bales of certified stocks. The Cotlook A Index was back down 10 points on 1/8 at 78.95 cents/lb. The USDA Adjusted World Price (AWP) was up 48 points from the previous week last Thursday at 55.03 cents/lb.
Mar 25 Cotton closed at 68.5, up 27 points,
May 25 Cotton closed at 69.68, up 31 points,
Jul 25 Cotton closed at 70.77, up 37 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- Grains and Oilseeds in Q4 and 2024- Where are they Heading in 2025?
- New Year, New Challenges: Taking A Look At What's Impacting Grain Prices
- Is Cotton Going Higher in 2025?
- Wrapping Up 2024 and Looking Ahead To What Will Matter In The Grain Markets For 2025
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
