Cotton prices are down 10 to 16 points to kick off Friday trade. Futures closed the Thursday session with contracts 25 to 33 point gains. Crude oil was up another $3.25/barrel, following increasing US sanctions on Russian oil companies and reports that Chinese buyers are limiting purchases. The US dollar index was up $0.037 to $98.710.
The Wednesday online auction from The Seam showed 832 bales sold with an average price of 64.10 cents/lb. The Cotlook A Index was back up 25 points on 10/22 at 75.85 cents. ICE certified cotton stocks were steady on October 22, with the certified stocks level at 17,552 bales. The AWP is still not being reported due to the government shutdown.
Dec 25 Cotton closed at 64.07, up 33 points, currently down 16 points
Mar 26 Cotton closed at 65.67, up 25 points, currently down 15 points
May 26 Cotton closed at 66.92, up 27 points, currently down 15 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.
