Cotton futures faced some light Thursday pressure, with contracts down 8 to 12 points at the close. Crude oil futures are down 54 cents per barrel at $57.92, with the US dollar index $0.373 lower to $98.395.
Export Sales data was released this morning for the week of 11/13 showing cotton bookings at 187,648 RB, back down from last year. Shipments were the second lowest this marketing year at 113,219 RB.
September cotton exports (excluding linters) totaled 592,176 bales, which was up 17.16% from last year but a 7.88% drop from August.
Wednesday’s online auction from The Seam showed sales of 9,650 bales at an average price of 60.52 cents/lb. The Cotlook A Index was back up 25 points on 12/10 at 73.95 cents. ICE certified cotton stocks were steady on December 10 with the certified stocks level at 13,971 bales. The Adjusted World Price was updated to 50.39 cents/lb on Thursday, down 89 points from the previous week.
Mar 26 Cotton closed at 64, down 12 points,
May 26 Cotton closed at 65.05, down 12 points,
Jul 26 Cotton closed at 66.08, down 8 points
