Cotton futures closed the Thursday session with contracts down 5 to 10 points in the nearbys, as October was down 24 points on thin trade. The US dollar index was back down $0.383 to $98.045, as crude oil futures were down another $1.31.
USDA’s Export Sales report showed a total of 241,982 RB of cotton sold in the week of 8/7. The top buyer was Vietnam of 119,200 RB, with 40,200 RB sold to Bangladesh and 20,700 RB to Turkey. Actual shipments were 142,593 RB in the first week of the MY. The top destination was Vietnam of 34,800 RB with 26,200 RB to Pakistan and 19,300 RB to Turkey.
The Seam reported 353 bales sold on the Wednesday online auction at an average price of 60.73 cents/lb. The Cotlook A Index was back up 175 points at 79.95 cents on August 13. ICE cotton stocks were steady on 8/13, with the certified stocks level at 18,242 bales. USDA’s Adjusted World Price (AWP) was back up 66 points on last week at 55.05 cents/lb.
Oct 25 Cotton closed at 66.17, down 24 points,
Dec 25 Cotton closed at 67.68, down 5 points,
Mar 26 Cotton closed at 69.25, down 7 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.
