Cotton Falling Lower on Thursday Morning
Cotton prices are down 54 to 73 points in early Thursday trade. Futures posted slightly lower trade on Wednesday, with contracts down 3 to 5 points and thin October up 3 points. Crude oil prices were down 70 cents on an inventory build despite a stronger start overnight. The US dollar index was down another $0.502 to $99.475.
The Seam reported 243 bales sold on 5/20 at an average price of 60.84 cents. The Cotlook A Index was back up 85 points on Tuesday at 77.60. ICE cotton stocks were up 3,430 bales via new certifications on May 20, with a certified stocks level of 39,796 bales. USDA’s Adjusted World Price (AWP) was back down 91 points last week to 53.90 cents/lb. It will be updated on Thursday.
Jul 25 Cotton closed at 66.07, down 5 points, currently down 72 points
Oct 25 Cotton closed at 68.65, up 3 points, currently down 54 points
Dec 25 Cotton closed at 68.71, down 3 points, currently down 69 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.