Cotton price action is up 10 to 20 points on Tuesday morning. Futures were weaker on Monday, with contracts closing 1 to 14 points lower. Crude oil futures are $1.43 per barrel higher at $57.95. The US dollar index was back down $0.317 to $97.935.
USDA’s Export Sales report indicated a total of 153,266 RB of cotton sold in the week ending on December 4. That was a 3-week high for sales but 10.19% below the same week last year. Shipments were 101,577 RB in that week, which was a marketing year low.
The 12/19 online auction from The Seam showed sales of 18,183 bales at an average price of 59.38 cents/lb. The Cotlook A Index was steady on December 19 at 73.30 cents. ICE certified cotton stocks were unchanged on Friday with the certified stocks level at 12,396 bales. The Adjusted World Price was updated on Thursday to 49.99 cents/lb a 40 point drop from the previous week.
Mar 26 Cotton closed at 63.61, down 14 points, currently up 20 points
May 26 Cotton closed at 64.78, down 6 points, currently up 18 points
Jul 26 Cotton closed at 65.85, down 1 points, currently up 15 points
