Cotton Slipping Back Lower at Midday
Cotton futures are trading with 23to 29 point losses so far on Monday. The outside factors are mixed at midday as the US dollar index is up 193 points, with crude oil $0.67/barrel higher.
The Seam reported 4,206 bales of online sales on December 27 at an average price of 61.99 cents/lb. ICE cotton stocks were unchanged on Friday, at 20,113 bales of certified stocks. The Cotlook A Index was down 30 points on 12/27 at 79.30 cents/lb. The USDA Adjusted World Price (AWP) was cut by another 54 points last week to 54.55 cents/lb. It is good through this Thursday.
Mar 25 Cotton is at 68.65, down 24 points,
May 25 Cotton is at 69.73, down 23 points,
Jul 25 Cotton is at 70.7, down 29 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- Wrapping Up 2024 and Looking Ahead To What Will Matter In The Grain Markets For 2025
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