Cotton futures are showing some mixed trade on Monday, with December up a tick and other contracts down a dime. December was down 146 points last week. The US dollar index is back up $0.233 on the session to $98.965, with crude oil $0.76/barrel higher.
On Friday, President Trump announced a new 100% tariff on Chinese goods starting November 1, as well as imposing export controls on any critical software. Later over the weekend he stated to “don’t worry about China,” with markets taking a whiplash approach back higher on the walk back.
Friday’s online auction from The Seam showed 318 bales sold with an average price of 58.15 cents/lb. The Cotlook A Index was back down 50 points on Friday at 76.05 cents. ICE certified cotton stocks were steady on October 10, with the certified stocks level at 16,471 bales.
Dec 25 Cotton is at 63.85, up 1 point,
Mar 26 Cotton is at 65.52, down 8 points,
May 26 Cotton is at 66.81, down 8 points
