Cotton Rallying to Kick off Friday Trade
Cotton price action is showing gains of 59 to 92 points. Futures closed out the Thursday session with contracts up 26 to 33 points. Crude oil futures were down $1.17/barrel on the day. The US dollar index was steady on the day.
The Seam reported 6,265 bales of online sales on January 22 at an average price of 60.91 cents/lb. ICE cotton stocks were unchanged on Monday, at 218 bales of certified stocks. The Cotlook A Index was up 5 points on 1/22 at 78.10 cents/lb. The USDA Adjusted World Price (AWP) was down another 27 points from the previous week on Thursday afternoon at 53.71 cents/lb.
Mar 25 Cotton closed at 67.47, up 33 points, currently up 92 points
May 25 Cotton closed at 68.54, up 26 points, currently up 90 points
Jul 25 Cotton closed at 69.64, up 27 points, currently up 82 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