Cotton futures held onto the weakness on Thursday with losses of 28 to 40 points on the session. Crude oil futures were back up 10 cents per barrel to $58.59 on the day, with the US dollar index $0.304 lower to $99.070.
Export Sales data was delayed more than a month, but showed sales in the week of 9/25 this morning, with 155,414 RB of cotton sold. Shipments were tallied at 117,595 RB.
The Wednesday online auction from The Seam showed 2,310 bales sold with an average price of 60.62 cents/lb. The Cotlook A Index was down 40 points on 11/12 at 75.40 cents. ICE certified cotton stocks were up 1,000 on November 11 with the certified stocks level at 18,239 bales. This week’s Adjusted World Price was released for the first time since the shutdown at 51.83 cents/lb.
Dec 25 Cotton closed at 62.90, down 40 points,
Mar 26 Cotton closed at 64.53, down 28 points,
May 26 Cotton closed at 65.70, down 30 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.
