Cotton price action is showing modest losses of 4 to 10 points. Futures posted gains of 28 to 40 points on the Wednesday session to rebound from recent weakness. The July contract rolled off the board at 64.96. Crude oil was down 4 cents/barrel to close at $68.29, with the US dollar index $0.012 lower to $97.160.
USDA will release Export Sales data shortly.
Tuesday’s online auction from The Seam showed sales of 2,465 bales at an average price of 65.44 cents. The Cotlook A Index was down 40 points on 7/8 at 78.75. ICE cotton stocks were unchanged on July 8, with the certified stocks level at 37,989 bales. USDA’s Adjusted World Price (AWP) was up 116 points last Thursday at 55.34 cents/lb. It is good through Thursday.
Jul 25 Cotton closed at 64.96, up 28 points,
Oct 25 Cotton closed at 66.36, up 28 points, currently down 10 points
Dec 25 Cotton closed at 67.78, up 40 points currently down 4 points
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
