Cotton Slipping on Friday
Cotton futures are trading with 15 to 30 point losses on Friday. The US dollar index is down 343 points, with crude oil losing $1.64 per barrel.
USDA’s Export Sales report showed 4.213 million RB of cotton sold or shipped so far for the 2024/25 marketing year. That is 37% of the current USDA export projection from the WASDE balance sheet and 12 percentage points behind the 5-year average pace.
ICE cotton stocks were unchanged on August 15, leaving 15,526 bales of cert stocks. The Cotlook A Index was down another 100 points on August 15 to 78.45 cents/lb. The USDA Average World Price (AWP) is 55.35 cents/lb for the next week through Thursday, up 11 points on the week.
Dec 24 Cotton is at 67, down 15 points,
Mar 25 Cotton is at 68.49, down 23 points,
May 25 Cotton is at 69.76, down 28 points
On the date of publication, Alan Brugler 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.
