Cotton prices are down 80 to 87 points early on Thursday. Futures were up 91 to 96 points higher across most contracts on Wednesday. Crude oil futures were up 21 cents/barrel to $60.36, with the US dollar index back up $0.502 to $98.955.
Following the meeting between President Trump and President Xi of China, President Trump posted that China is set to purchase massive amounts other ag goods, though no specifics were given cotton.
The Tuesday online auction from The Seam showed 3,401 bales sold with an average price of 61.63 cents/lb. The Cotlook A Index was up 35 points on 10/28 at 75.95 cents. ICE certified cotton stocks were up another 500 bales on October 28, with the certified stocks level at 18,052 bales.
Dec 25 Cotton closed at 66.01, up 96 points, currently down 87 points
Mar 26 Cotton closed at 67.51, up 91 points, currently down 83 points
May 26 Cotton closed at 68.71, up 91 points, currently down 83 points
