Cotton futures saw Thursday gains of 8 points across the front months at the close. Crude oil futures were 8 cents per barrel higher at $56.02. The US dollar index was $0.093 higher to $98.095.
Export Sales data showed 135,886 RB of cotton sold during the week of 11/27, a 4-week low. Shipments were a 3-week high at 122,094 RB.
Total export sale commitments are 5.72 million RB, which is now 16.53% below the same period last year. Much of that is due to lighter sales with shipments actually up 7.61% during the marketing year at 2.3 million RB.
Thursday’s online auction from The Seam showed sales of 14,934 bales at an average price of 60.84 cents/lb. The Cotlook A Index was down 90 points on 12/17 at 73.00 cents. ICE certified cotton stocks were unchanged on December 17 with the certified stocks level at 12,396 bales. The Adjusted World Price was updated this afternoon to 49.99 cents/lb a 40 point drop from last week.
Mar 26 Cotton closed at 63.51, up 8 points,
May 26 Cotton closed at 64.61, up 8 points,
Jul 26 Cotton closed at 65.66, up 8 points
