Cotton futures are trading with contracts 9 to 15 points across the front months on Thursday. Crude oil futures are down $1.90 per barrel on the day at $62.72. The US dollar index is up $0.164 to $96.885.
The National Cotton Council estimates the US cotton planted area total at 9 million acres this year according to their annual survey.
USDA’s Export Sales report from this morning showed a total of 231,031 RB of cotton sold in the week ending on February 5. That was back down from the week prior, but still 22.3% above the same week last year. Shipments were 188,597 RB, a 3-week low.
The Seam showed sales of 11,722 bales sold on 2/11, averaging 57.17 cents/lb. The Cotlook A Index was unchanged on Wednesday at 73.30 cents. ICE certified cotton stocks were up another 3,136 bales February 11, with the certified stocks level at 102,232 bales. The Adjusted World Price for the current week is 49.78 cents/lb. It will be updated later today.
Mar 26 Cotton is at 62.08, up 9 points,
May 26 Cotton is at 64.19, up 15 points,
Jul 26 Cotton is at 65.82, up 13 points
