Cotton futures are trading with 25 to 32 points at Friday’s midday. Crude oil futures are up $0.27 per barrel on the day at $63.11. The US dollar index was up $0.082 to $96.755. The markets will be closed on Monday for President’s Day.
USDA’s Export Sales data has 8.034 million RB of cotton export commitments, which is 12% below last year. That is 71% of USDA’s revised export projection, back from the 88% average pace.
The Seam showed sales of 15,617 bales sold on 2/12, averaging 57.90 cents/lb. The Cotlook A Index was 25 points higher on Wednesday at 73.55 cents. ICE certified cotton stocks were up another 3,808 bales February 12, with the certified stocks level at 106,040 bales. The Adjusted World Price was trimmed to 49.39 cents/lb on Thursday afternoon, down 39 points from last week.
Mar 26 Cotton is at 61.97, down 32 points,
May 26 Cotton is at 64.01, down 32 points,
Jul 26 Cotton is at 65.7, down 28 points
