Cotton Losses Extend to Friday
Cotton futures are down 115 to 120 points in the front months. Crude oil is back down $1.20 per barrel on the session, with the US dollar index down $0.0.5.
Export Sales from this week shows 4.5 million RB of cotton export commitments as of 9/10, 13% ahead of the 5-year average. That is also 39% of the USDA export forecast and behind the 48% average pace.
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The Cotlook A index was down 25 points on September 17 at 94.35. ICE certified cotton stocks were steady on 9/17, with the certified stocks level at 36,617 bales. The Adjusted World Price was back down 59 points on Thursday to 68.92 cents/lb.
Oct 26 Cotton is at 77.22, down 119 points,
Dec 26 Cotton is at 81.02, down 115 points,
Mar 27 Cotton is at 83.63, down 118 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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