Cotton futures are down 50 to 77 points at Friday’s midday. The US dollar index was $0.003 lower at $99.215. Crude oil was up $0.54 on the day to $98.89. The market will be closed on Monday for Memorial Day, with a normal open for the Tuesday session.
USDA’s Export Sales report has the total cotton export commitment level at 10.994 million RB, which is 1% below last year. That is 98% of the USDA export projection and behind the 106% average.
The Seam reported 962 sales on Thursday at an average of 75.27 cents/lb. The Cotlook A Index was back down 75 points on May 21 at 91.50 cents. ICE certified cotton stocks were up 3,746 on Thursday with the certified stocks level at 213,969 bales. The Adjusted World Price was back down 319 points on Thursday at 68.68 cents/lb.
Jul 26 Cotton is at 77.21, down 77 points,
Dec 26 Cotton is at 79.14, down 59 points,
Mar 27 Cotton is at 79.98, down 60 points
