Cotton price action is 44 to 58 points higher on Friday morning. Futures close the Thursday session easing back from the midday gains, as contracts were down 3 to 5 points in the front months. The US dollar index was down $0.406 at $98.135, with crude oil $0.87/barrel lower.
Early on Friday morning, President Trump he think’s we’ll be fine with China ahead of the leaders meeting in a couple weeks.
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Wednesday’s online auction from The Seam showed just 445 bales sold with an average price of 54.09 cents/lb. The Cotlook A Index was down another 10 points on 10/15 at 74.85 cents. ICE certified cotton stocks were up another 158 bales on October 15, with the certified stocks level at 16,751 bales.
Dec 25 Cotton closed at 63.73, down 3 points, currently up 57 points
Mar 26 Cotton closed at 65.29, down 4 points, currently up 55 points
May 26 Cotton closed at 66.5, down 5 points, currently up 53 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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