Cotton Trading Higher on Friday
Cotton futures are trading with contracts 20 to 60 cents higher at Friday’s midday. Crude oil prices are up 30 cents so far on the day, with the US dollar index down $0.774 to $99.075.
The market will be closed on Monday for Memorial Day, as well as the government reports delayed, with a normal open for the Tuesday session.
Export Sales data now has 11.297 million RB in cotton commitments. That is 109% of the USDA forecast, now slightly below the 110% average pace.
The Seam reported 245 bales sold on 5/22 at an average price of 56.74 cents. The Cotlook A Index was unchanged on Tuesday at 78.25. ICE cotton stocks were up 2,444 on May 22 via new certification, with a certified stocks level of 42,240 bales. USDA’s Adjusted World Price (AWP) was down 38 points on Thursday afternoon at 53.52 cents/lb.
Jul 25 Cotton is at 66.23, up 60 points,
Oct 25 Cotton is at 68.38, up 20 points,
Dec 25 Cotton is at 68.69, up 43 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.